Will I be able to use USDT in Europe?
Will I be able to use USDT in Europe?
I just heard about a new EU law that will come into force in the next few days. Its called MiCA and intends to regulate the use of stablecoins in the European Union.
I’m in the process of starting a new registered business in the EU that will use USDT as its sole payment currency.
Does anyone know if this new law means I won’t be able to accept USDT or is it more aimed and regulating exchanges etc?
I mean, my wallet isn’t tied to any European country and I could exchange anywhere, but I’m totally unsure of the ramifications.
Any advice would be muchly appreciated.
Not sure if individuals are also under these rules but I guess yes. The solution is accepting USDC. USDC already meets MiCA requirements because France allowed it some time ago. My suggestion is to convert your USDT to USDC and only accept USDC.
If you can’t avoid accepting USDT, convert it as soon as possible to USDC when getting it.
Binance is allowing customers to convert their USDT to USDC or other coins but not the other way around.