The Stablecoin USDT transmitter expresses its concerns concerning the withdrawal of its crypto from European platforms. This decision, motivated by the new Mica regulations, could create, according to Tether, a “messy” market and present risks for European consumers.
European exchanges conform to Mica by removing the USDT
Crypto.com, one of the main Crypto exchange platforms, announced on January 29, 2025 the withdrawal of the USDT and nine other tokens in Europe from January 31. This decision aims to comply with the mica regulations of the European Union.
Coinbase had already adopted a similar approach in December 2024 by removing the USDT and five other cryptos. The platform said that it could reintegrate certain stablecoins if they become compliant with Mica.
Tether reacted by denouncing “precipitated” decisions, taken on the basis of ” blurring“. A spokesperson has expressed His disappointment in the face of these measures, believing that they lack clarity as to their justification.
“” It is disappointing to see the precipitated actions caused by declarations which do not help to clarify the basis of such measures “He told Cointelegraph.
A significant impact on the European crypto ecosystem
Tether believes that these new regulations could strongly disrupt the European cryptocurrency market, while Mica is only in its infancy. The company stresses that these restrictions do not only concern the USDT, but also other tokens such as Wrapped Bitcoin and Stablecoin Dai.
The USDT transmitter also recalls that the dollars stablecoins remain little used in the European Union, unlike emerging markets where the USDT plays a key role. “” The Stablecoins market in USD is almost negligible in Europe“, Underlines a spokesperson.
Despite these reservations, Tether finalizes his European strategy for the USDT and says he wants to comply with the requirements of Mica while developing innovative solutions, such as Hadron, designed to meet the new rules.
The situation could evolve quickly, the ESMA having asked Crypto platforms to remove non -compliant stablecoins by the end of March 2025.
In short, this context feeds the criticisms of American president Donald Trump, who recently denounced European regulations as “very unfair” towards American companies, during a virtual discourse in Davos.
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