Tether (USDT) Turns 10, Working on MiCA-Compliant Solution by November
Oct 07, 2024 pm 07:00 PMYesterday, USDT, Tether's stablecoin, turned 10 years old. Today marks 10 years of USDt! To celebrate, we're launching our documentary
Stablecoin issuer Tether is planning to roll out a new technological solution by the end of the year to ensure that its flagship stablecoin, USDT, continues to be available in the European market.
The European Union's Markets in Crypto Assets (MiCA) legislation went into effect on June 30, introducing a regulatory framework for digital asset service providers and issuers in the EU.
The rules governing stablecoins stipulate that fiat-collateralized stablecoins can only be issued by entities recognized as authorized e-money issuers.
As of now, Tether is not recognized by the EU as an e-money issuer.
According to Tether's Chief Technology Officer (CTO) Paolo Ardoino, the company is working on a solution that could be ready by November, over a month ahead of the December 30 deadline.
If USDT does not comply with MiCA by that date, it could be delisted from exchanges for users in EU countries.
While it is unlikely that exchanges will voluntarily remove the possibility of legally trading USDT for European citizens, the option theoretically remains open.
Hence, Tether is seeking a solution that will allow USDT to remain available on exchanges for EU residents.
Ardoino confirmed that the solution must be completed by December 30, though it may be ready as early as November.
However, the nature of this solution is still unclear. Ardoino only stated that the details will be announced at a later date. It is expected to be a new tech solution designed specifically for the European market to adapt USDT to the new regulatory landscape.
Tether has noted that certain aspects of MiCA make it more challenging to operate licensed stablecoins in the EU, potentially introducing new risks to the local banking infrastructure and the stablecoins themselves.
One concern raised by Tether is that the new regulation could expose banks and digital assets to systemic risks, rendering them susceptible to issues like mass withdrawals, such as those encountered by Silicon Valley Bank last year.
The company did commend the EU regulator for finally establishing a clear and structured regulatory environment, highlighting that the use cases for stablecoins differ greatly in Europe compared to emerging and developing markets where USDT is more widely adopted.
On October 6, 2014, the stablecoin USDT was officially launched. At the time, Ethereum did not yet exist, with its blockchain being created the following year.
Initially, the USDT token was launched on a Bitcoin sidechain called Omni. Out of the 119 billion USDT in circulation today, nearly 900 million are still present on the old Omni.
When USDT was first launched, less than 300,000 tokens were minted on Omni. This number rose to over 500,000 in 2015 and crossed one million in 2016.
The first major boom in USDT usage occurred during the crypto market rally in 2017, which propelled the stablecoin's market capitalization to over a billion dollars, marking an x1000 increase in less than two years.
It is worth noting that the price of USDT has remained around $1 throughout this period, indicating that only the usage of the stablecoin increased significantly, not its value.
The following year, USDT crossed the 2.5 billion mark but later fell below 2 billion during the bear market.
The second major boom in USDT usage began in 2019, when the stablecoin crossed the 4 billion mark and continued into 2022, reaching over 80 billion.
During the bear market of 2022, USDT's market capitalization briefly dropped below 70 billion. However, it recovered in 2023, crossing first 90 billion, then 100 billion in 2024, and currently stands at around 120 billion dollars.
The above is the detailed content of Tether (USDT) Turns 10, Working on MiCA-Compliant Solution by November. For more information, please follow other related articles on the PHP Chinese website!

Hot AI Tools

Undress AI Tool
Undress images for free

Undresser.AI Undress
AI-powered app for creating realistic nude photos

AI Clothes Remover
Online AI tool for removing clothes from photos.

Clothoff.io
AI clothes remover

Video Face Swap
Swap faces in any video effortlessly with our completely free AI face swap tool!

Hot Article

Hot Tools

Notepad++7.3.1
Easy-to-use and free code editor

SublimeText3 Chinese version
Chinese version, very easy to use

Zend Studio 13.0.1
Powerful PHP integrated development environment

Dreamweaver CS6
Visual web development tools

SublimeText3 Mac version
God-level code editing software (SublimeText3)

Hot Topics

The most suitable tools for querying stablecoin markets in 2025 are: 1. Binance, with authoritative data and rich trading pairs, and integrated TradingView charts suitable for technical analysis; 2. Ouyi, with clear interface and strong functional integration, and supports one-stop operation of Web3 accounts and DeFi; 3. CoinMarketCap, with many currencies, and the stablecoin sector can view market value rankings and deans; 4. CoinGecko, with comprehensive data dimensions, provides trust scores and community activity indicators, and has a neutral position; 5. Huobi (HTX), with stable market conditions and friendly operations, suitable for mainstream asset inquiries; 6. Gate.io, with the fastest collection of new coins and niche currencies, and is the first choice for projects to explore potential; 7. Tra

Purchase USDT and other stablecoins on Apple phones, you must download the compliant exchange app through the overseas Apple ID and complete the authentication and conduct transactions. The specific steps are as follows: 1. Use Apple ID in the non-mainland region to log in to the App Store; 2. Download recommended platforms such as OKX, Binance, Huobi (HTX), Gate.io or KuCoin; 3. Complete registration and identity authentication (KYC); 4. Enter the "Buy Coin" or "C2C/P2P Transaction" page to select USDT; 5. Filter merchants according to the payment method and place orders; 6. Pay through Alipay, WeChat or bank card and confirm transactions; 7. Wait for the merchant to put the coins into the account, and the entire process is completed.

The real use of battle royale in the dual currency system has not yet happened. Conclusion In August 2023, the MakerDAO ecological lending protocol Spark gave an annualized return of $DAI8%. Then Sun Chi entered in batches, investing a total of 230,000 $stETH, accounting for more than 15% of Spark's deposits, forcing MakerDAO to make an emergency proposal to lower the interest rate to 5%. MakerDAO's original intention was to "subsidize" the usage rate of $DAI, almost becoming Justin Sun's Solo Yield. July 2025, Ethe

Table of Contents Crypto Market Panoramic Nugget Popular Token VINEVine (114.79%, Circular Market Value of US$144 million) ZORAZora (16.46%, Circular Market Value of US$290 million) NAVXNAVIProtocol (10.36%, Circular Market Value of US$35.7624 million) Alpha interprets the NFT sales on Ethereum chain in the past seven days, and CryptoPunks ranked first in the decentralized prover network Succinct launched the Succinct Foundation, which may be the token TGE

Stablecoins are cryptocurrencies with value anchored by fiat currency or commodities, designed to solve price fluctuations such as Bitcoin. Their importance is reflected in their role as a hedging tool, a medium of trading and a bridge connecting fiat currency with the crypto world. 1. The fiat-collateralized stablecoins are fully supported by fiat currencies such as the US dollar. The advantage is that the mechanism is simple and stable. The disadvantage is that they rely on the trust of centralized institutions. They represent the projects including USDT and USDC; 2. The cryptocurrency-collateralized stablecoins are issued through over-collateralized mainstream crypto assets. The advantages are decentralization and transparency. The disadvantage is that they face liquidation risks. The representative project is DAI. 3. The algorithmic stablecoins rely on the algorithm to adjust supply and demand to maintain price stability. The advantages are that they do not need to be collateral and have high capital efficiency. The disadvantage is that the mechanism is complex and the risk is high. There have been cases of dean-anchor collapse. They are still under investigation.

Ethereum is a decentralized application platform based on smart contracts, and its native token ETH can be obtained in a variety of ways. 1. Register an account through centralized platforms such as Binance and Ouyiok, complete KYC certification and purchase ETH with stablecoins; 2. Connect to digital storage through decentralized platforms, and directly exchange ETH with stablecoins or other tokens; 3. Participate in network pledge, and you can choose independent pledge (requires 32 ETH), liquid pledge services or one-click pledge on the centralized platform to obtain rewards; 4. Earn ETH by providing services to Web3 projects, completing tasks or obtaining airdrops. It is recommended that beginners start from mainstream centralized platforms, gradually transition to decentralized methods, and always attach importance to asset security and independent research, to

The leading stablecoins in 2025 are expected to be: 1. Tether (USDT), which ranks first with its wide market acceptance and high liquidity; 2. USD Coin (USDC), which wins trust with compliance and transparent audits; 3. Dai (DAI), which is the core of decentralized finance; 4. First Digital USD (FDUSD), which relies on the Binance platform to grow rapidly in transaction volume; 5. Ethena USDe (USDe), which provides returns through innovative derivative mechanisms but is accompanied by higher risks. Individual investors can purchase stablecoins through mainstream exchanges such as Binance, Ouyi, Huobi, Gate.io and Coinbase

Binance App data is the most authoritative and millisecond real-time, suitable for users who need one-stop transactions and price query; 2. The Ouyi App interface is refreshing and supports Web3 account integration, and the simplified version is more friendly to users who only need to query prices; 3. As a third-party aggregation platform, CoinGecko can compare prices across exchanges and use lightweight, suitable for research and analysis, but weak real-time; 4. Huobi App has stable functions and wide user base, but insufficient innovation and market share has declined; 5. Gate.io provides rich stable currency types and emerging project data, which is powerful but has a crowded interface, making it difficult for novices to get started.