In an unprecedented development that may reshape the future of cryptocurrencies, the European Union has announced a decision to delist the Tether (USDT) from all European exchanges by December 30, 2024.

What does this decision mean?
The European Union seeks to create a more stable market, but this may lead investors to seek alternatives outside of Europe.
Reflections of decisions on the cryptocurrency market
The first thing to expect from the consequences of this decision is a decrease in liquidity, as the withdrawal of Tether poses a direct threat to liquidity in European cryptocurrency markets, as USDT is the backbone of many trading operations.
Who benefits from this decision?
1 New stablecoins, such as (USDC) (USD Coin) and DAI, and Tether's new stablecoin, Tether's Stable, and other stablecoins.
2 Asian and American markets, as a large share of cryptocurrency trading is expected to move to other markets such as the United States and Asia.
The European Union considers itself a beneficiary of the decision, as supporters of the decision believe that the new regulations that limit the trading of Tether (USDT) in Europe will contribute to creating a safer environment in the cryptocurrency market.
Why is Tether leaving Europe now?
The decision comes amid global efforts to regulate cryptocurrencies following a series of major market collapses in recent years, especially the bankruptcy of FTX exchange and the instability in the cryptocurrency market, particularly the decline in the value of Bitcoin in 2022, before rebounding strongly to surpass $100,000 in December 2024.
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