MiCA Regulation Has Little Impact on Global USDT Demand

The European Union's MiCA regulation has not led to a significant global outflow from USDT, according to data and research cited by Cointelegraph. Despite restrictions on access to USDT on regulated European platforms, Artemis Analytics found no substantial reduction in USDT supply or shift of liquidity across blockchains and trading venues.

Research by economists at LUISS University and the University of Surrey also supports this conclusion, finding that MiCA significantly changed trading structures on certain regulated venues but had little impact on the aggregate market shares and trading volumes of the largest stablecoins. In fact, USDT's share of total stablecoin supply remained around 61.2% in July.

Additionally, data shows that most on-chain activity with USDT continues to expand in regions outside the EU, with daily users on BNB Chain and Tron growing significantly over the same period.