Circle’s extensive political influence in the United States grants it a notable edge over Tether. Additionally, the evolving regulatory landscape beyond US borders presents obstacles for USDT while opening doors for USDC to expand its market dominance. A case in point is Kraken, a prominent global exchange for digital currencies, contemplating the elimination of USDT support for its European user base due to apprehensions surrounding the European Union’s MiCa regulations. If Kraken proceeds with this decision, it could establish a precedent for other cryptocurrency exchanges and potentially revolutionize the stablecoin market.
