EU announces 10 stablecoin issuers approved by MiCA… excluding Tether

Ten companies have been approved to issue stablecoins under the European Union’s Markets in Cryptocurrencies Act (MiCA).
According to Patrick Hansen, senior director of EU strategy and policy at Circle, the approved companies
These include Banking Circle, stablecoin issuer Circle, Crypto.com, and Fiat Republic.
at Republic), Crypto.com, Fiat Republic, Membrane Finance, Quantoz
These include Payments, Schuman Financial, Societe Generale, StabIR and Stable Mint.
Hansen explained that the 10 companies have issued a total of 10 euro-pegged stablecoins and five U.S. dollar-pegged stablecoins.
However, Tether, the issuer of USDT, the world's largest stablecoin by market capitalization, was removed from the approved list, highlighting a delicate balance between regulation and market opportunity.
Cryptocurrency exchanges have reportedly begun delisting USDT for European Union (EU) residents ahead of the December 2024 deadline for the implementation of MiCA regulations.
The company also said it was ceasing support for other USD-pegged stablecoins that do not meet the requirements of MiCA. In response, Tether expressed regret and said the delisting was premature and unnecessary.
He claimed that it was.