Under MiCA, exchanges and other crypto service providers need a licence (CASP) from one EU country, which then lets them serve the whole EU. Stablecoin issuers must hold reserves and meet strict rules, which led several exchanges to remove USDT for EU users.
Markets & regulation
MiCA
Also called: Markets in Crypto-Assets · MiCAR
In shortThe European Union's rulebook for crypto companies and stablecoins, fully in force since December 2024.