MiCA kicking USDT out of European centralised exchanges will be a boon for P2P and DEX.
USDT remains the highest volume market.
Discussion
I hope that you've noticed that P2P is exempt from VASP requirements in MiCA nostr:npub1sqn6rpml88nq8khuvvneuqztfmvalpsarr8grkwy837hzdw63ajs6t5net nostr:npub1recksattenerp89r2esaq6atd0xsgjzzp2e5n24am2hsyartz52s4flju2 nostr:npub15369wu3wzzar5fclhecyqfv683x69n6nhlg7rxqnsg2dydgxflpq3apswl nostr:npub1yul83qxn35u607er3m7039t6rddj06qezfagfqlfw4qk5z5slrfqu8ncdu nostr:npub1mftv2j67vayavkks8rqev3u8jjhefe86tf80msstfxvpunk9vmps6prkl3 nostr:npub1m0str0d7z2ww8rdh20t2n9lx520xjwhaq24p68umqp06wwrwtsnqen40un
problem is no one uses these platforms.. Trying to actually get a order arranged on these platforms can take weeks.
@hodlhodl is ok and Robosats.
@Bisq 2 hardly has any offers.
That seems like an opportunity for a market maker to make a profit by increasing liquidity. Would you pay 3% more to not wait for weeks?
Bisq2 is currently aimed at nocoiners only, Bisq1 is where the liquidity is at
My reading of MiCA is that P2P is outside of scope and therefore not subject to the requirements imposed by this directive on centralised exchanges (VASP and CASP). Please let me know if I'm wrong about this.
For traders, market makers and liquidity providers there is an opportunity for profit. Liquidity is thin right now in these markets. They can easily charge 3-5% to bridge the gap.
Trading in USDT/BTC means that you can provide this service from anywhere in the world! You also avoid banks, which are the biggest source of friction in P2P trades.
Eventually USDT/BTC will be atomic swaps ⚛️. Making trades faster, safer and easier!