Market Observer: It is currently still unclear whether Tether intends to apply for EU authorization

BlockBeats News, January 29th, the European Securities and Markets Authority (ESMA) has requested cryptocurrency companies to comply with the new EU stablecoin rules by March 31st. According to market observers, USDT is one of the stablecoins under strict scrutiny. It is currently unclear whether Tether intends to apply for EU authorization. As a "significant" stablecoin under MiCA, it may face stricter requirements, including higher capital reserves and more rigorous regulation. Some industry insiders also believe that 80% of the USDT trading volume comes from Asia, with the United States also leading global cryptocurrency trading.

Furthermore, to comply with MiCA requirements, Tether has invested in compliant companies such as StablR and Quantoz Payments. Tether's CEO, Paolo Ardoino, has made it clear that they do not intend to exit the EU in the short term. Although USDT may not be traded on MiCA-compliant exchanges, traders can still hold the stablecoin in non-custodial wallets as a temporary solution.