{"id":42269,"date":"2024-11-28T09:10:49","date_gmt":"2024-11-28T09:10:49","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/tether-shuts-down-eurt-stablecoin-in-response-to-mica-requirements\/"},"modified":"2024-11-28T09:10:49","modified_gmt":"2024-11-28T09:10:49","slug":"tether-shuts-down-eurt-stablecoin-in-response-to-mica-requirements","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/tether-shuts-down-eurt-stablecoin-in-response-to-mica-requirements\/","title":{"rendered":"Tether Shuts Down EURT Stablecoin in Response to MiCA Requirements"},"content":{"rendered":"

(Originally posted on : Crypto News – iGaming.org )<\/b>
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Tether, the leading issuer of stablecoins, has announced the discontinuation of its euro-pegged stablecoin, EURT. The decision, revealed in a press release on Wednesday, states that the company will stop supporting EURT but will allow users to redeem their tokens until November 27, 2025.<\/p>\n

The move comes ahead of the European Union\u2019s new regulatory framework, the Markets in Crypto-Assets (MiCA) regulation, which is set to be fully implemented by the end of this year. MiCA demands that stablecoin issuers comply with stringent rules or risk losing access to the European market of over 450 million consumers.<\/p>\n

Tether has not obtained the necessary Electronic Money Institution (EMI) license to operate within the EU, a requirement under MiCA. Paolo Ardoino, Tether\u2019s CEO, has voiced strong opposition to the regulation, calling it burdensome. In contrast, Circle, the issuer behind the widely used USDC stablecoin, has already met the MiCA requirements.<\/p>\n

Low Demand and Focus on New Ventures<\/h2>\n

Despite its long-standing presence in the market, EURT has not gained significant traction. The euro stablecoin had a modest market capitalization of $27 million, far behind its competitors\u2014Circle\u2019s EURC with $90 million and Stasis Euro\u2019s $130 million. For comparison, Tether\u2019s flagship stablecoin, USDT, holds a massive $132 billion market cap.<\/p>\n

Looking ahead, Tether is shifting its focus to new projects, including partnerships aimed at complying with MiCA. Recently, the company invested in Quantoz, a Netherlands-based stablecoin issuer, and launched the Hadron platform, designed to help smaller stablecoin projects become MiCA-compliant. In a statement, Tether emphasized its future strategy: \u201cAt this time we will be focusing our support on new ventures such as the launch of Quantoz Payments\u2019 revolutionary MiCAR-compliant stablecoins, EURQ, and USDQ which will be powered by Tether\u2019s advanced technology solution, Hadron by Tether.\u201d<\/em><\/p>\n

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With EURT\u2019s phase-out, Tether\u2019s attention now shifts to supporting emerging stablecoin projects that align with regulatory requirements in the EU.<\/p>\n<\/p><\/div>\n

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(Originally posted on : Crypto News – iGaming.org ) Tether, the leading issuer of stablecoins, has announced the discontinuation of its euro-pegged stablecoin, EURT. The decision, revealed in a press release on Wednesday, states that the company will stop supporting EURT but will allow users to redeem their tokens until November 27, 2025. The move […]<\/p>\n","protected":false},"author":34,"featured_media":42270,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0},"categories":[34],"tags":[],"_links":{"self":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/42269"}],"collection":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/users\/34"}],"replies":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/comments?post=42269"}],"version-history":[{"count":0,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/42269\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media\/42270"}],"wp:attachment":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media?parent=42269"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/categories?post=42269"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/tags?post=42269"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}