Markets
Kraken has no plans to remove Tether’s USDT from European crypto exchanges, executive says
An executive at US-based cryptocurrency exchange Kraken denies previous reports that the company was considering terminating leading stablecoin Tether (USDT) in the European Union (EU).
Reports of Kraken revising its support for USDT come amid fears that the EU could ban the largest stablecoins – USDT, USDCAnd BUSD because they do not comply with the regulation of crypto-asset markets (MiCA).
In a statement on social media platform complaints that the company is considering removing support for USDT on its European platforms.
“Let me be clear: Kraken continues to list USDT in Europe and we have no plans to delist it at this time.”
He claims that Kraken is taking steps to ensure that USDT will be available to its European customers under MiCA, which will come into full effect by December 2024.
The new regulatory regime gives EU member countries a uniform legal framework to govern the digital asset market. The law covers surveillance, consumer protection and environmental protection of crypto assets, as well as measures to reduce financial crime.
Said Greenberg,
“We know our European customers value access to USDT and we continue to review all options to offer USDT under the next regime.
We will of course comply with all legal requirements, even those with which we do not agree. But the rules are not yet finalized and we continue to do everything possible to continue offering all relevant stablecoins to our European customers.
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Featured image: Shutterstock/Yueh Chiang