Another strong post by @jason_chen998. Nice breakdown on why USDT is refusing to comply with MiCA, leading to delistings on European platforms. It’s worth noting that USDC is MiCA compliant. Circle does not apply the strict MiCA 60% bank-deposit rule to its entire global USDC reserve pool. Instead, the rule applies only to the portion issued and circulating in Europe. Essentially, Circle created two pools of USDC—one for the US and one for Europe. So why isn’t USDT doing the same? Tether has the money to comply if they want to. I’m sure they ran a cost-benefit analysis. But they frame it as an ideological and philosophical choice. If true, they have gained my respect for challenging the status quo.(Min 🥤)