Ninjastic
PostEdited versionsQuotes to this post
Post
Topic
Board Economics
Re: Europe Delisting USDT
by
EarnOnVictor
on 14/01/2025, 00:38:14 UTC
Quote from: Nalain420 on January 13, 2025, 05:33:16 PM
Quote from: EarnOnVictor on January 07, 2025, 02:11:14 PM
Quote from: digidojo on December 30, 2024, 04:44:28 PM
-snip-
What are your thoughts on this?
I like to balance things between the two parties, we should know that the USDT is not sincere, the US has had issues with it many times, they can't be trusted and the EU is protecting its territory. However, they should have made the USDT more accountable through regulations, shutting it down in Europe is not smart economically and the implications may not be obvious yet but are many and the EU should be one of the leaders in cryptocurrency, not this way.

The impact on the USDT is not felt yet, if other countries including the US join due to its lack of cooperation, then the EU will miss nothing because alternatives like USDC will take over in dominance and the future of the USDT will be so bad.
USDT was famous cryptocurrency but I was banned in Europe because they thought that is damaging their economy and it could be because USA is dominant on all the World and they have hold of USDT and they are effecting the economy of other countries because many cryptocurrency Investors buy USDT for the exchange purpose . USDC is also famous in the market and it will take position of USDC in the Europe but it is less famous in the USA but we are familiar with the both USDT and USDC. Europe thought that Trump is planning big ,So they want to cover their money .But it is harmful for the investors but they lost money by the decision of government. They produce fear in the market and USDT investors could be less .
I'm surprised you brought political and core economic reasons to this, even Trump was not spared, well, I do not read or see it that way, it is long overdue for the Bloc to make USDT accountable in Europe. It has always been the US dominating in the regulatory space of the USDT and is widely believed to lack transparency. The main reason why the EU bans/restricts it is for "financial transparency/accountability and to reduce risks, which is normal."

The Bloc wants the USDT to adhere to the MiCA regulation by licencing it as electronic money, maintain reserved in recognised banks and wants transparency and reserves' audit.