Stablecoin issuing giant Tether is closing down its euro stablecoin, EURT.
“After careful consideration, we have made the decision to discontinue support for EUR₮,” the firm said in a press release on Wednesday. Users will be able to redeem tokens until Nov. 27, 2025, the post added.
The decision comes as digital asset businesses operating in the EU are in crunch time before region-wide regulations, known as MiCA, enter into full force by the end of this year.
MiCA requires stablecoin issuers to get compliant or potentially retreat from the market of 450 million consumers. Tether CEO Paolo Ardoino has been a vocal critic of the new rules and the company has not obtained the necessary Electronic Money Institution (EMI) license to operate in the EU. Meanwhile, rival issuer Circle, the company behind the $36 billion market cap USDC, said it fulfilled the requirements to operate in the regio
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Author: Krisztian Sandor
