"Uncertainty Remains Over Tether (USDT) Delisting Ahead of MiCA Implementation"

As the MiCA law is set to be implemented in Europe on December 30th (local time), uncertainty remains over the delisting of Tether (USDT).

On the 26th (local time), Cointelegraph reported, "Although the MiCA law is set to be implemented, uncertainty remains over the delisting of USDT," adding, "Despite Coinbase's delisting of USDT, trading using USDT continues across the EU." Furthermore, "As of the time of writing, the European Securities and Markets Authority (ESMA) has not provided guidance on the delisting of USDT," and "In October, they refused to answer whether USDT is a stablecoin restricted by the MiCA law."

Juan Ignacio Ibañez, a technical committee member of the MiCA Crypto Alliance, explained in an interview with Cointelegraph, "European regulators have not explicitly stated that USDT complies with regulations," but added, "This does not mean that USDT does not comply with regulations."

Ibañez stated, "There is no reason for virtual asset exchanges to preemptively delist USDT like Coinbase did," explaining that "Coinbase took a precautionary approach to avoid regulatory uncertainty." He added, "December 30th is a date to watch," and "The key is whether all exchanges will simultaneously delist USDT, delist it gradually, or if some exchanges will adopt a 'wait-and-see strategy' hoping for a statement from regulators."

Meanwhile, Tether has announced that it is preparing to launch a Euro-based stablecoin that complies with regulations.