Tether recently made a big move - announcing that starting from November 27 this year, EUR₮ (Euro stablecoin) will no longer be redeemable on all on-chain platforms. In fact, as early as 2022, they stopped accepting new EUR₮ issuance applications, and this time it can be considered a definitive conclusion.

Why did they suddenly stop playing? Tether's explanation is quite straightforward: the current regulatory framework in Europe is not yet perfect; it needs to be both stable and encourage innovation while also preventing risks, and balancing these factors is not that easy. Therefore, the company decided to invest resources elsewhere for now and will revisit the situation once the policy environment in Europe becomes clearer.

CEO Paolo Ardoino has also made a statement, but no further details regarding the Hadron project have been disclosed for the time being. It seems that Tether is proactively retracting its operations under regulatory pressure, focusing its efforts on more reliable businesses.

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CommunityJanitor

· 11-27 05:27

With strict European regulations, stablecoins are bound to be hurt. Tether is really being forced into this situation... The EUR stablecoin is doomed, and I feel there will be more to come. This "waiting for policy clarity" is just a euphemism for not wanting to deal with it. What exactly is the Hadron project? Paolo seems quite cautious. Regulation is strangling stablecoins, which is quite interesting. To put it bluntly, they are still afraid of the EU continuing to tighten the noose, so it's better to withdraw first.

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BearMarketMonk

· 11-27 05:24

It's too competitive over here in Europe, with waves of regulations; Tether has to admit defeat. EUR₮ is going offline directly; to put it bluntly, it's still because the EU can't handle it. How about Hadron? This must be Tether's real target. Another "temporary"... waiting for policies to become clear 😏 I've seen it long ago, stablecoins have no way out in Europe. Resource reallocation, this pace is a bit urgent. Rather than stubbornly fighting in Europe, it's smarter to lay back and wait for opportunities. Regulation really is the nemesis of stablecoins, there's no way around it. Tether is playing a big game; EUR₮ is just a pawn.

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DAOTruant

· 11-27 05:24

When European regulators take action, stablecoins have to obediently admit defeat, Tether has been forced to retreat this time. EUR₮ is gone just like that, should have acted last year. Is the regulatory framework not完善? I think it's Tether that doesn't have the grip, when will Hadron actually land? Still need support from the US side, this mess in Europe is really hard to handle.

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ConsensusDissenter

· 11-27 05:21

When European regulations come into play, stablecoins have to roll away. Is Tether being cowardly or smart? It's hard to say. The Hadron project is quite mysterious, feels like they are brewing some big move. EUR₮ is doomed, but this operation is quite honest. It's better than those who are being all secretive. If the regulatory framework doesn't work, then pull back; to be honest, this logic is sound... it's just that the wallets in Europe might shrink. It's really wherever the regulation is loose, that's where to go, the survival rule of the crypto world.

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StablecoinGuardian

· 11-27 05:00

The euro stablecoin has been directly scrapped, this move is indeed a bit harsh, Tether has completely admitted defeat in Europe.

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