Coinbase, one of the largest cryptocurrency exchanges, has announced plans to delist all unauthorized stablecoins in the European Economic Area by the end of 2024. This decision comes in response to the upcoming implementation of the European Union's Markets in Crypto Assets (MiCA) regulation, which imposes additional requirements on stablecoin issuers. The regulation requires stablecoin issuers to obtain e-money authorization from at least one EU member state, and failure to comply will result in restrictions. Tether (USDT), the world's largest stablecoin, currently lacks the necessary authorization to operate in Europe and will be delisted by Coinbase. Other exchanges, including Kraken, Bitstamp, and Uphold, have already restricted Tether in Europe and are working towards compliance. Coinbase intends to offer users the option to convert their stablecoins to compliant alternatives such as Circle's USD Coin (USDC). The implementation of MiCA is expected to significantly impact the European cryptocurrency market, and more exchanges are likely to update their listings to meet the regulation's requirements before the December 2024 deadline. Additionally, Deutsche Bank-owned DWS has announced plans to launch the first German-regulated euro-denominated stablecoin in 2025.



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