Tether (USDT) Delisting: How European Crypto Exchanges Are Reacting to MiCA
Tether– Cryptocurrency exchanges across Europe are maintaining support for Tether’s USDt stablecoin, even as Coinbase announced it would delist USDT for European users to comply with upcoming regulatory changes. The ongoing support from major platforms highlights the ongoing debate within the industry surrounding the future of stablecoins in Europe as new regulations under the Markets in Crypto-Assets Regulation (MiCA) come into full effect on December 30.
Major Exchanges Keep USDT Listings Amid MiCA Uncertainty
Leading crypto exchanges such as Binance, Crypto.com, and Kraken have confirmed that they will continue to offer trading for Tether USDt (USDT), even after Coinbase officially delisted the stablecoin on December 13. This move came as part of Coinbase’s efforts to comply with the MiCA regulation, which governs crypto assets in the European Union.
Exchanges like KuCoin, Mexc, and Bitget have also kept USDT available for European users despite the looming regulatory changes. While Coinbase took a proactive step by halting USDT trading to avoid potential MiCA violations, the overall regulatory landscape remains unclear, and some platforms are holding out for further guidance.
Did Any Other Exchanges Delist USDT in Europe?
As of now, Coinbase is the only major exchange that has publicly delisted USDT in response to the MiCA framework. However, some exchanges operating in Europe have already made adjustments or are considering future changes.
For example, OKX announced that it delisted USDT in March 2024, citing a shift towards more euro-based trading pairs. Bitpanda, on the other hand, has declined to comment on whether they have already delisted USDT or plan to do so in the near future.
MiCA’s Full Implementation and Its Impact on Stablecoins
The Markets in Crypto-Assets Regulation (MiCA) has been in effect since June, but the stablecoin-specific regulations are expected to take full effect starting on December 30. MiCA aims to provide a more robust legal framework for crypto assets, including stablecoins like USDT, and ensure that they comply with EU regulations.
With the deadline approaching, crypto exchanges in Europe face a critical decision: whether to continue supporting USDT or delist it to align with MiCA’s requirements. The regulatory framework could lead to further clarification regarding the status of stablecoins in the European market.
Disclaimer: This article is for informational purposes only and does not constitute investment advice. Cryptocurrencies and stocks, particularly in micro-cap companies, are subject to significant volatility and risk. Please conduct thorough research before making any investment decisions.
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