Tether CEO Paolo Ardoino is concerned about the EU's MiCA regulation for stablecoins. He asserts that the new requirements complicate stablecoin operations and increase their vulnerability and risk. In other news, Binance has announced plans to restrict "unauthorized" stablecoins in Europe to comply with MiCA, potentially affecting other exchanges and the accessibility of stablecoins like USDT.
Wednesday, June 5, 2024Tether announced that it will discontinue USDT minting on EOS and Algorand but continue to support USDT redemptions on these blockchains for the next 12 months. This is part of its larger strategy to focus resources on platforms that maximize security, efficiency, and user engagement across the broader crypto landscape.
USDT is launching on the Aptos blockchain as part of its strategy to make digital currency more accessible and useful. The introduction of a top stablecoin on Aptos is a significant milestone. Recent metrics suggest Aptos has hundreds of thousands of daily active users and the capacity to handle 30,000 TPS.
Tether, TRON, and TRM Labs have launched the T3 Financial Crime Unit (T3 FCU), a groundbreaking private sector initiative aimed at combating crypto-related crimes on the TRON blockchain, especially involving USDT. By combining blockchain intelligence and anti-crime expertise, the unit has already assisted law enforcement in freezing over $12 million linked to various scams, marking a proactive step in safeguarding the crypto ecosystem.