The new laws put Tether's European operations at jeopardy, and the company appears to be taking a break to figure things out.

• Tether is no longer minting new tokens, so is there pressure?
• Circle’s USDC is already in the market; Ripple's RLUSD will start gaining over Tether's loss.

EU pressure halts Tether minting?

     Tether is infamous for continually minting USDT out of thin air, however for the past two weeks, forget about the 1B USDT mining process; Tether has minted nothing. I was startled, but there is chatter in the cryptoverse that Tether is unable to work with the EU regulator. The EU might ban Tether or impose sanctions on it.

Tether's EU loss will be Ripple's gain

Tether could lose the EU

     There are reports that the European Union might ban Tether. If Tether is banned by the EU, all centralised European exchanges will delist it in order to comply with EU regulations, effectively excluding Tether from the EU market.

Ripple could gain the EU

     Ripple has already entered the EU market with its RLUSD stablecoin, and in order to comply with regulations, there is a high chance that European exchanges will list RLUSD as the superior USDT alternative to other stablecoins.

Originally published at Grill, and on Wubits as thread