USDC Surpasses USDT in Euro Stablecoin Trading as EU MiCA Rules Take Effect
(3 hours ago) · 1 source · Summarized by CryptoBipto
According to research firm Kaiko, USDC has overtaken USDT in euro-denominated stablecoin trading pairs. The shift is attributed to the European Union's Markets in Crypto-Assets (MiCA) regulation, which has reshaped how stablecoins are used on exchanges operating in Europe.
WHY IT MATTERS
Stablecoins are cryptocurrencies designed to maintain a steady value, usually pegged to a traditional currency like the US dollar or euro. Think of them as digital versions of regular money used for trading and transferring value in the crypto world. USDT (Tether) and USDC (Circle's USD Coin) are the two largest stablecoins. The EU recently introduced a set of rules called MiCA — essentially a rulebook for crypto companies operating in Europe. Because USDC's issuer has worked to meet these new rules, European exchanges have favored it over USDT for euro trading pairs. This story shows how government regulation can directly shift which crypto products people use, even when a competitor has long been dominant in the market.
Read the full analysis with a CryptoBipto membership
Members can read the full analysis of every story, not just the headline.
Get startedSOURCES
- cointelegraph.com
RELATED
Learn the concepts behind this
Clear explanations of the subjects this article touches, with every term defined.