Stablecoins: MiCA Approves 10, Excludes Tether

EU Approves Ten Stablecoin Issuers Under MiCA, Excludes Tether

• The EU approved ten stablecoin issuers under the Markets in Crypto-Assets (MiCA) regulations.
• Tether, with a $141 billion market cap, was not included in the approved list.
• Approved entities include Banking Circle, Circle, and Societe Generale among others.
• The approval covers ten euro-pegged and five US dollar-pegged stablecoins.
• 11 MiCA-authorized Crypto-Asset Service Providers were also approved across Germany, the Netherlands, and Malta.

The EU’s approval of ten stablecoin issuers under MiCA regulations notably excludes Tether despite its significant market capitalization. This decision has led to crypto platforms delisting USDT for EU users. The move highlights regulatory challenges for digital assets within the EU framework.