Tether, the world's largest stablecoin issuer, is facing significant challenges from the new European regulatory framework MiCA and increased competition. Despite this, Tether plans to improve the user experience for USDT.
Competitive Pressure and MiCA
Tether's CEO, Paolo Ardoino, accused competitors of attempting to push the company out of the market through legal and regulatory means. This allegation followed the adoption of new MiCA rules in Europe, which exclude Tether from the list of approved stablecoin issuers.
Implications for Tether and the Market
The exclusion from MiCA is already causing shifts in the European crypto market. Major exchanges have announced delisting USDT and other non-compliant stablecoins, which may significantly reduce USDT liquidity in Europe.
Announcement of Gas-Free Transactions on Tron
Tron founder Justin Sun announced the implementation of gas-free transactions for USDT on the Tron blockchain. This is aimed at reducing transaction costs and may increase stablecoin usage globally.
Tether continues to actively expand operations and improve user services despite regulatory and competitive challenges. The introduction of gas-free transactions on Tron is a strategic move in this direction.
