cryptojournalist
Changes Ahead for Stablecoins
Coinbase will stop supporting Tether’s USDT and several other stablecoins in Europe starting Dec. 13. This decision aligns with the MiCA regulations requiring stablecoin compliance. The delisted assets include USDT, PAX, PYUSD, GUSD, GYEN, and DAI. Meanwhile, compliant coins like USD Coin (USDC) and EURC will remain available.
Impact of MiCA Regulations
MiCA regulations aim to bring stability and oversight to the crypto market, fully applying to service providers from Dec. 30. Coinbase is taking early action, advising users to switch to compliant alternatives such as USDC.
USDT’s Role on Coinbase
Despite USDT being a key asset on Coinbase, responsible for 12% of trades and $1 billion in daily volume, the exchange prioritizes regulatory alignment. Coinbase is open to reinstating delisted coins if they meet compliance later.
Tether’s Commitment to Europe
Tether expressed dissatisfaction with what it views as premature delistings by some exchanges. The company plans to adapt to MiCA by launching compliant stablecoins, such as EURq and USDq, while continuing to support the European market.
