🔑 Key Takeaways MiCA regulates the middle, not the edges – Centralized entities like VASPs fall under MiCA, but DeFi platforms remain outside its scope. USDT is vanishing from regulated exchanges – Binance, Kraken, Coinbase, and others have delisted USDT in the EU due to MiCA compliance pressure. DeFi enables indirect access to banned stablecoins – Users can still trade USDT via decentralized protocols, highlighting a regulatory blindspot. MiCA forces strategic clarity,