Following the implementation of the Markets in Crypto-Assets (MiCA) framework, major exchanges across the European Union have delisted Tether's USDT, while Circle's USDC and EURC maintain their listings. This regulatory shift positions Circle as the prime beneficiary, as its stablecoins comply with MiCA's stringent requirements. Additionally, the Bank of New York Mellon (BNY) has backed USDC, further legitimizing Circle’s position. The delisting of USDT marks a significant pivot in the European stablecoin market, potentially reshaping liquidity and trading dynamics. MiCA's full effect will continue to unfold as exchanges adjust their offerings.

Key facts

• EU exchanges delist USDT under MiCA regulations.
• Circle's USDC and EURC remain listed across Europe.
• BNY Mellon backs USDC, boosting Circle's credibility.
• MiCA reshapes European stablecoin market dynamics.