Since 1 July 2026, USDT stablecoin from Tether has disappeared from the regulated cryptocurrency exchanges of the European Union after completing the transition to the MiCA regulation. Tether decided not to seek approval under the new rules because, according to CEO Paolo Ardoino, the regulation requires holding at least 60% of reserves on deposits in European banks. Tether’s strategy relies on US Treasury securities and other globally diversified assets, which does not meet the new EU requirements.

Tether’s exit from the European market began as early as 2024, when the company discontinued the euro-linked EURT stablecoin and began to phase out support for USDT. Major exchanges have consistently delisted the asset from the listing - Coinbase Europe in December 2024, Crypto com in January 2025, Binance restricted trading pairs in March 2025, and Kraken stopped support altogether. This process was a natural outcome of regulatory pressure on issuers that did not meet European standards.

Unlike Tether, Circle has been granted a license to establish electronic money in France, which is valid in all 27 EU member states. As a result, the USDC and EURC stablecoins have become major digital dollars and euros that meet MiCA requirements. Against this background, Binance also suspended services to EU residents, hoping to obtain a corresponding license in France after the Greek rejection.

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The material is prepared solely for informational purposes and does not constitute a financial advice or recommendation.