#加密货币监管政策 Looking back at the development of cryptocurrency regulatory policies, it is not difficult to see that Tether’s decision to terminate EUR₮ redemption services is highly consistent with current trends. As early as 2017, governments around the world began to pay attention to the potential risks of stablecoins. Today, the European market’s regulatory framework for stablecoins is continuously tightening, and Tether’s move to follow suit is indeed a wise decision. This reminds me of how the Libra project was forced to terminate in 2019 due to regulatory pressure. History is strikingly similar; the contest between regulation and innovation never ceases. Tether’s shift to launching compliant EURQ and USDQ is undoubtedly a proactive response to stricter regulations. From past experience, timely strategy adjustments often allow survival amid regulatory storms. It is worth noting that this shift may signal a broader restructuring of the stablecoin ecosystem. For the industry as a whole, closely monitoring policy trends and adjusting strategies in a timely manner will be key to survival in the future.