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MiCA’s Crypto Crackdown: Why the EU Just Axed Tether and Binance
MiCA’s Crypto Crackdown: Why the EU Just Axed Tether and Binance
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Europe's new crypto regime just dropped the hammer—and two giants got flattened.
The backstory: MiCA's strictest rules kicked in this week, targeting 'unbacked' stablecoins and non-compliant exchanges. No grace period, no exceptions.
Who got hit: Tether's USDT (too opaque) and Binance's euro transactions (too independent) failed the regulatory sniff test. Now EU users face blocked deposits and forced conversions.
The fallout: Trading pairs are vanishing faster than a DeFi rug pull. Meanwhile, compliant stablecoins like USDC are quietly eating Tether's lunch—with 300% more daily volume since January.
The irony: Banks still gamble with 50x leverage, but heaven forbid crypto traders have an unregulated dollar-pegged token. Priorities, right?
The MiCA crypto regulation EU framework is making headlines again, this time for approving 53 cryptocurrency companies across Europe while leaving out major players like Tether and Binance. ... Read More
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