A company that is changing the way the world mines bitcoin

CoinDesk 2025-01-10 10:35:13

EU's MiCA Rules Will Likely Boost Euro Denominated Stablecoins, JPMorgan Says

The EU's MiCA regulations, which came into effect on Dec. 30, will likely boost euro denominated stablecoins, JPMorgan (JPM) said in a research report on Wednesday. "Under MiCA, only compliant stablecoins can be used as trading pairs in regulated markets, prompting EU exchanges to adjust their offerings," analysts led by Nikolaos Panigirtzoglou wrote. This has resulted in compliant stablecoins such as Circle's EURC gaining strength, whereas non-compliant stablecoins like Tether's EURT faced challenges, the Wall Street bank said. A stablecoin is a type of crypto designed to hold a steady value and is usually pegged to the U.S. dollar, though other currencies and commodities such as gold are also used. Under the new rules stablecoin issuers such as Tether are required to maintain significant reserves in banks based in Europe and must secure licenses for trading, the report noted. This has led Tether to discontinue its EURT stablecoin and has resulted in the delisting of USDT from a number of exchanges based in the EU, JPMorgan said. The stablecoin issuer said in November that it would phase out its euro stablecoin, with users able to redeem tokens for up to 12 months. Still, Tether remains a "dominant force" in the global stablecoin market in spite of these challenges, the bank said, adding that is widely used in Asian markets where there are less restrictions. Tether's investment in MiCA-compliant stablecoin issuers such as Quantoz Payments shows it commitment to maintaining a presence in the EU, the report added. The company said in December that it had also invested in European stablecoin issuer StablR. Read more: Tether Invests in MiCA-Compliant Stablecoin Issuer StablR

Meist gelesene Nachrichten

Curve Finance Sees Significant Growth With 10...
2025-01-10
CFPB proposes crypto firms refund users for f...
2025-01-10
Market Reactions: Analyzing Employment Data a...
2025-01-10
Did Bitcoin bottom at $92K? These 3 BTC chart...
2025-01-10
BNB price ignores the crypto crash: could it...
2025-01-10
Binance Lists ChainGPT (CGPT): Unlocking a Ne...
2025-01-10
Pepe Rescues Trump (PEPERTRU) Solana Memecoin...
2025-01-10
Unveiling Lightchain AI- The Revolutionary Cr...
2025-01-10

Ähnliche Neuigkeiten

Investors Expect FXGuys ($FXG) To Replicate Solana...
10 Jan 2025
$36 Million Worth XRP at Risk of Liquidation: Repo...
10 Jan 2025
Bitcoin Nosedives to $93,000, AI Agents Meta Remai...
10 Jan 2025
Bitcoin Price May Approach $95,000 as Key Metrics...
10 Jan 2025
K-pop’s Cube Entertainment CEO Accused of Misleadi...
10 Jan 2025
XRP Price Tipped For 500% Rally Above $10, But Cry...
10 Jan 2025

Lesen Sie den Haftungsausschluss : Alle hierin bereitgestellten Inhalte unserer Website, Hyperlinks, zugehörige Anwendungen, Foren, Blogs, Social-Media-Konten und andere Plattformen („Website“) dienen ausschließlich Ihrer allgemeinen Information und werden aus Quellen Dritter bezogen. Wir geben keinerlei Garantien in Bezug auf unseren Inhalt, einschließlich, aber nicht beschränkt auf Genauigkeit und Aktualität. Kein Teil der Inhalte, die wir zur Verfügung stellen, stellt Finanzberatung, Rechtsberatung oder eine andere Form der Beratung dar, die für Ihr spezifisches Vertrauen zu irgendeinem Zweck bestimmt ist. Die Verwendung oder das Vertrauen in unsere Inhalte erfolgt ausschließlich auf eigenes Risiko und Ermessen. Sie sollten Ihre eigenen Untersuchungen durchführen, unsere Inhalte prüfen, analysieren und überprüfen, bevor Sie sich darauf verlassen. Der Handel ist eine sehr riskante Aktivität, die zu erheblichen Verlusten führen kann. Konsultieren Sie daher Ihren Finanzberater, bevor Sie eine Entscheidung treffen. Kein Inhalt unserer Website ist als Aufforderung oder Angebot zu verstehen