Coinbase, one of the world’s largest cryptocurrency exchanges, has announced plans to delist Tether’s USDT stablecoin from its European platform. This decision comes in response to the European Union’s Markets in Crypto-Assets Regulation (MiCA), which imposes stricter regulations on cryptocurrencies and their issuers.
Under MiCA, stablecoin issuers must obtain an e-money license from a European Union member state. Tether, the USDT issuer, has not yet obtained such a license, rendering it non-compliant with the new requirements.
Coinbase has stated that it will restrict services for non-compliant stablecoins in the European Economic Area (EEA) by December 30, 2024. This means that European users of Coinbase will no longer be able to buy, sell, or store USDT on the platform.
While this move may impact some users, it highlights the increasing regulatory scrutiny on the cryptocurrency industry and the importance of compliance. As more countries implement stricter regulations, cryptocurrency exchanges and issuers will need to adapt to ensure they meet the required standards.
