Circle’s powerful political influence in the United States grants it a notable edge over Tether. Furthermore, the evolving regulatory landscape beyond the borders of the US presents obstacles for USDT while opening doors for USDC to expand its market presence. To illustrate, Kraken, a prominent global cryptocurrency exchange, is contemplating the elimination of USDT from its European user platform due to apprehensions surrounding the European Union’s MiCa regulations. Should Kraken proceed with this decision, it could establish a precedent for other cryptocurrency exchanges, potentially reshaping the stablecoin market in a substantial manner.
