According to CoinMeta, EU crypto companies are required to remove Tether's USDT by January 8, 2027. The European Securities and Markets Authority (ESMA) stated that companies that have obtained MiCA licenses "should cease" activities including trading, exchanging, holding, transferring, order execution, advising, and portfolio management services. USDT (with a supply of $184 billion) does not meet MiCA standards due to the lack of a EU electronic currency license, which may affect more than 240 companies that have obtained MiCA licenses.