Bittime - The European Union (EU) is preparing to implement strict rules that could potentially make many stablecoins (crypto assets whose value is pegged to another asset) illegal in their territory.
The new rules require stablecoin issuers to be registered as electronic financial institutions, explained Jón Egilsson, co-founder and chairman of Monerium, in an article on CoinDesk.
The consequences of this rule are quite significant. According to Egilsson, many stablecoins currently operating in Europe have the potential to be illegal because they do not have permits and are not yet regulated as electronic money transfer institutions.
Potential Impact on the Crypto Industry
It is feared that this policy will have a significant impact on the crypto industry in Europe. Stablecoins such as Tether (USDT) are an important component in the crypto trading infrastructure on centralized exchanges.
USDT, as the world's largest stablecoin, is the most active trading pair for Bitcoin (BTC) and other crypto assets.
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Temporary Confusion
Not long ago, crypto exchange OKEx stopped supporting transactions using USDT for its users in the European Union and the European Economic Area (EEA).
This decision sparked speculation regarding the stock exchange's preparations for the strict regulations that the EU will implement.
However, an OKEx spokesperson stated that the decision was taken to focus more on increasing the liquidity of Euro currency pairs on their platform.
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The Unclear Future of Stablecoins
With these new rules in place, the future of stablecoins in Europe remains unclear. Crypto industry players need to pay close attention to regulatory details and be prepared to adjust their operations to remain compliant.
How to Buy Tether (USDT) on Bittime
You can buy and sell Tether ( USDT ) in an easy and safe way via Bittime . Bittime is one of the best crypto applications in Indonesia which is officially registered with Bappebti.
Tether (USDT) is available on Bittime with the USDT/IDR market pair . To be able to buy USDT/IDR at Bittime, make sure you have registered and completed identity verification. Apart from that, also make sure that you have sufficient balance by depositing some funds into your wallet. For your information, the minimum purchase of assets on Bittime is IDR 10,000. After that, you can purchase crypto assets in the application.
Learn the complete guide on how to buy Tether ( USDT/IDR ) on Bittime .
Monitor price chart movements of Tether ( USDT/IDR) , Bitcoin (BTC) , Ethereum (ETH) , Solana (SOL) and other cryptos to find out today's crypto market trends in real-time at
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DISCLAIMER: This article is informational in nature and is not an offer or invitation to sell or buy any crypto assets. Trading crypto assets is a high-risk activity. Crypto asset prices are volatile, where prices can change significantly from time to time and Bittime is not responsible for changes in fluctuations in crypto asset exchange rates.
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