The European cryptocurrency market is undergoing a significant transformation. The EU's Digital Assets Regulation MiCA ((Markets in Crypto-Assets) establishes clear rules for stablecoins: any token tied to a fiat currency and circulating in the European Economic Area must be issued by a licensed entity with permission from the national regulator.

Tether, the issuer of the world's largest stablecoin USDT, did not go through the licensing procedure under MiCA, focusing on the American market, in particular, on the launch of a new stablecoin USAT for operation under the American GENIUS Act. As a result, the largest EU exchanges Binance, Coinbase, Crypto.com, OKX and Kraken gradually removed trading pairs with USDT for European users throughout 2024-2025.

This is not a block in the classic sense: storing USDT in your own wallet and using it on decentralized platforms is still allowed. The restriction applies exclusively to licensed European exchanges - they simply do not have the right to offer unlicensed stablecoins to their customers.

The vacated space is actively occupied by USDC from the company Circle a token that has received full approval under MiCA. Unlike USDT, USDC undergoes monthly independent reserve checks through Deloitte, which increases user and regulator confidence. At the same time, euro-stablecoins are gaining popularity, which are becoming a convenient tool for settlements within the EU.

For users accustomed to working with USDT, the transition to alternatives proved to be a viable solution. USDC liquidity has significantly increased over the past year, and most trading platforms have offered convenient tools for automatic conversion. Essentially, the European market is getting a more transparent and regulated infrastructure for working with stablecoins - with clear reserve requirements and regular audits.

The situation clearly shows how competent regulation stimulates the development of more reliable tools. The cryptocurrency industry adapts, and users ultimately get a more secure environment for working with digital assets.

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#Tether
#MiCA
#stablecoins
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#Europe
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#USDC
#Brick