The fact that USDC is MiCA compliant speaks a lot about USDC.
Tether just straight opting out of the EU market in that case, but the thing that still makes me wonder is why USDT pair got so much volume and liquidity while USDC left behind. I always find it annoying having to convert to USDT first before making a trade.
People need to wake up and choose better stablecoin so liquidity can be spread across many stablecoin pair.
Don't compare like that and think USDC is more reliable if you don't know why USDT refuses to comply with Mica. The reason tether is not compliant with MiCA and wants to leave the market is because this law requires all stablecoins to keep their reserves in accredited banks in the EU. Meanwhile, Tether is registered in the UK and operates outside the EU and does not have a legal branch in the EU like USDC. To comply with Mica, Tether would have to restructure the company, spend money to transfer reserves, and face a host of other legal troubles. Therefore, they chose to accept leaving the EU market and instead, they chose a simpler solution for themselves by partnering with Quantoz Payments to create mica compliant EURq, USDq.
USDT is not Mica compliant but I wouldn't be surprised if they were US GENIUS Act compliant as the US market is much more important. The GENIUS Act will come into effect soon and we will know if USDT is trustworthy or not.