In Europe, Tether is facing closure because the EU requires investments in euros. BlackRock is already further ahead and already has a euro stablecoin in its back pocket. The German bank is now entering the stablecoin business and creating its own euro-based cryptocurrency.
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Nobody wants a Euro stable coin. It’s dollars that matter. It’s just the truth
Yes, private individuals don't want euro stablecoins, but European banks are under pressure from the European Central Bank.
So far, only the USDC stablecoin is eligible in the EU; Tether has already been delisted from crypto exchanges in Europe.
Europe is cooked though.
Yes, from the socialists. However, Europe has already regulated the crypto sector recently. The US hasn't yet done so.