<a href="https://bitcoinworld.co.in/kraken-considers-ending-usdt-support-in-the-eu/" title="Kraken Considers Ending USDT Support In The EU" rel="noopener noreferrer nofollow"></a>
<ul>
 <li style="font-weight: 400">Kraken is reportedly considering ending support for the stablecoin USDT in the EU.</li>
 <li style="font-weight: 400">The exchange’s plans come amid the push for compliance ahead of EU’s crypto regulations MiCA.</li>
</ul>
<a href="https://www.kraken.com/" rel="noopener noreferrer nofollow">Kraken</a> is considering a move that would see the crypto exchange end its support for the Tether (USDT) stablecoin in Europe.
A Bloomberg report published on Friday, May 17, noted that the crypto exchange was “actively reviewing” this position.
<h3 id="span-style-font-weight-400-kraken-eying-usdt-delisting-ahead-of-eu-s-mica-rules-span">Kraken Eying USDT Delisting Ahead Of EU’s MiCA Rules</h3>
According to the report, Kraken is looking at ending USDT support for the market ahead of the region’s Markets in Crypto-Assets (MiCA) regulation roll out date.
The delisting of USDT for the exchange’s EU users is part of the compliance procedure.
See Also: <a class="row-title" href="https://bitcoinworld.co.in/uk-crypto-advisory-firm-shut-down-after-5m-losses-in-investors-money/" aria-label="“UK Crypto Advisory Firm Shut Down After £5M Losses In Investors’ Money” (Edit)" rel="noopener noreferrer nofollow">UK Crypto Advisory Firm Shut Down After £5M Losses In Investors’ Money</a>
Crypto exchanges and other providers with operations in the EU know that MiCA’s stablecoin rules are set to come into effect on June 30, 2024.&nbsp;
The comprehensive regulatory framework also includes rules targeted at cryptocurrency service providers – these will take effect on December 30, 2024.
Kraken is “absolutely planning for all eventualities,” Marcus Hughes, the exchange’s global head of regulatory strategy, told Bloomberg. The crypto platform will take a firm position on this in due course, the official added.
If it takes this step, Kraken will join OKX which ended support for USDT trading pairs on its European platform in March.
Tether is currently the world’s largest USD-pegged stablecoin with over $110 billion in market cap, accounting for 68.7% of the $160 billion market.&nbsp;
According to data from CoinGecko, USDT is currently available across 347 exchanges.
<blockquote>
 Disclaimer: The information provided is not trading advice. Bitcoinworld.co.in holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.
</blockquote>
#Binance #WRITE2EARN
The post <a href="https://bitcoinworld.co.in/kraken-considers-ending-usdt-support-in-the-eu/" rel="noopener noreferrer nofollow">Kraken Considers Ending USDT Support In The EU</a> appeared first on <a href="https://bitcoinworld.co.in" rel="noopener noreferrer nofollow">BitcoinWorld</a>.

Kraken Considers Ending USDT Support In The EU

Table of Contents

ItsBitcoinWorld

Other articles published on May 19, 2024

Top 4 Meme Coins That Can Easily Make 20X-25X Gains This Summer

Top Trending Cryptos on Solana Chain Today – Silly Dragon, Abble, Cheems

Decoding Bitcoin’s recent price surge: This group leads the way

Top 5 Altcoins for New Investors

Crypto swaps, why is it better?

Venezuela Cracks Down on Crypto Mining Farms Amid Energy Crisis

Join our free newsletter for daily crypto updates!