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BitcoinSistemi 2024-12-28 14:21:09

What Is the Latest Tether (USDT) FUD? Is There a Need to Panic? Here’s What to Know

The European cryptocurrency market is set for a seismic change as the Crypto Asset Markets Regulation (MICAr) comes into full force on December 30, 2024. The delisting of Tether’s USDT from most centralized European exchanges is among the most significant changes that have stirred fear, uncertainty, and doubt (FUD) in the market. Here’s what it means for crypto users, businesses, and the future of digital assets. MICAr stands for Markets in Crypto Assets Regulation. This comprehensive regulatory framework sets licensing requirements for cryptocurrency businesses in the European Union (EU), including “transitional rules” that facilitate compliance across EU member states. MICAr essentially creates a transparent environment for crypto activities by requiring Know Your Customer (KYC) processes for crypto transactions and wallets. While advocates see this as a step towards legitimacy of the market, critics argue that it could stifle innovation and invade privacy. MICAr is also expected to impact global crypto regulation, with the US and other countries likely to adopt similar rules in the near future. What Will Change Within the Scope of MICAr? Travel Rule Travel Rule, bir AB lisansı altında faaliyet gösteren kripto para işletmelerinin, boyutlarına bakılmaksızın tüm işlemler için hem gönderenlerin hem de alıcıların kimliklerini toplamasını ve paylaşmasını zorunlu kılacak. Bu kural aşağıdakiler için geçerlidir: Exchange transactions: Exchanges will share users' personal data during transfers. Hot and cold wallets: Even personal wallets should be tied to verified identities, giving authorities and exchanges full visibility of transactions. Critics argue that such extensive data collection increases the risk of privacy violations and data leaks. Related News: Veteran Analyst il Capo Reveals He's Buying More of This Altcoin After Today's Rally Tether (USDT) Delisting One of the most immediate impacts of MICAr is the delisting of Tether’s USDT, the world’s largest stablecoin by market cap. USDT will no longer be available on most centralized exchanges in Europe from December 30. While USDC (USD Coin) has been deemed compliant and will remain in use, the loss of USDT could disrupt trading pairs and liquidity. More stablecoins could follow, potentially reducing options for users in the EU. What Does This Mean for Users? Exchange-to-Exchange Transfers: Personal data will now accompany every transaction. This lack of anonymity raises concerns about where private information might go and how securely it will be handled. Hot and Cold Wallets: Tying wallets to identities undermines the privacy that crypto wallets have traditionally offered. Even offline wallets that do not provide direct on-ramps for fiat currency will face KYC requirements. MICAr advocates argue that tighter regulations will combat criminal activity like money laundering and tax evasion. But research shows that personal wallets do not significantly contribute to these risks because they do not involve fiat currency coming in and out. Critics argue that the measures disproportionately affect privacy-conscious users and set a worrying precedent for global crypto governance. *This is not investment advice. Continue Reading: What Is the Latest Tether (USDT) FUD? Is There a Need to Panic? Here’s What to Know

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