The lack of clear directives from officials leaves the future of the USDT stablecoin in the EU ambiguous after the MiCA regulation fully takes effect. Juan Ignacio Ibáñez, a member of the MiCA Crypto Alliance’s technical committee, shared this view in an interview with Cointelegraph.

“No regulator has explicitly stated that USDT does not meet requirements, but that doesn’t mean the opposite either,” he noted.

According to Ibáñez, Coinbase’s delisting of the stablecoin is a proactive measure, and other exchanges aren’t necessarily required to act as quickly. He emphasized that the key milestone is MiCA’s effective date: December 30.

“The question is whether all exchanges will simultaneously delist USDT, if it will happen gradually, or whether some companies will adopt a ‘wait and see’ approach, anticipating statements from regulators,” Ibáñez added.

European regulators have not officially mandated the delisting of USDT. As of December 27, many exchanges, including Binance, continue offering USDT services to EU clients without announcing plans to cease these operations.

According to policymakers, a transition period of 18 months will follow MiCA’s enforcement. During this time, EU countries may allow existing businesses to continue operating under current legislation until January 1, 2026.

By the end of this period, the EU aims to establish a comprehensive regulatory framework that aligns with standardized client protection measures.

Tether CEO Paolo Ardoino has expressed concerns that MiCA poses a “systemic risk” not only to stablecoins but also to the banking system. He specifically pointed to the requirement to hold at least 60% of reserves in potentially “vulnerable” EU banks.

In November, Kraken and Tether jointly funded the launch of MiCA-compliant stablecoins.