Cryptocurrency

Monero

Cryptocurrency exchange Kraken has “no plans” to delist Tether (<a href="https://cointelegraph.com/tether-price-index">USDT</a>)&nbsp;in Europe at the moment despite a recent report claiming the firm was “actively reviewing” the decision to remain legally compliant.
“[Kraken] continues to list USDT in Europe and we have no plans to delist at this time,” <a href="https://x.com/marklg/status/1791912544216433004" target="_blank" rel="noopener nofollow">stated</a> Mark Greenberg, global head of asset growth and management at&nbsp;Kraken, in a May 18 X post.
The firm will continue to follow all legal requirements — even those that it disagrees with — Greenberg iterated. “But the rules are not finalized yet and we continue to do everything we can to continue to offer all relevant stablecoins to our European customers.”
<figure data-ct-non-breakable="true">
 <img src="https://s3.cointelegraph.com/uploads/2024-05/c4dcd24f-b5ea-4ca4-bd8d-fcd247aabbc9.jpg" alt="" title="">
 <figcaption style="text-align: center;">
 Source: <a href="https://x.com/marklg/status/1791912544216433004" target="_blank" rel="noopener nofollow">Mark Greenberg</a>
 </figcaption>
</figure>
A May 17 article from Bloomberg reported Kraken was “actively reviewing” <a href="https://cointelegraph.com/news/kraken-considers-dropping-usdt-europe-new-regulations">plans to comply</a> with the European Union’s upcoming <a href="https://cointelegraph.com/learn/markets-in-crypto-assets-regulation-mica">Markets in Crypto-Assets Regulation</a> (MiCA) framework.
“We’re absolutely planning for all eventualities, including situations where it’s just not tenable to list specific tokens such as USDT,” said Marcus Hughes, global head of regulatory strategy at&nbsp;Kraken, at the time. 
<blockquote data-ct-non-breakable="true">
 “It’s something that we’re actively reviewing, and as the position becomes clearer, we can take firm decisions on that.”
</blockquote>
The rules applicable to stablecoins under MiCA will come into force on June 30, while cryptocurrency service provider rules will take effect six months later on Dec. 30.
Related: <a href="https://cointelegraph.com/news/kraken-exchange-self-custody-crypto-wallet-following-other-cexs">Kraken exchange rolls out self-custody crypto wallet, following other CEXs</a>
One of Kraken’s biggest competitors, OKX, <a href="https://cointelegraph.com/news/okx-delists-usdt-pairs-tether-europe">made the move to delist</a>&nbsp;USDT in Europe in March.
Binance announced plans to make a similar decision last September, citing a need to <a href="https://cointelegraph.com/news/binance-delist-stablecoins-in-europe-mica-compliance">comply with MiCA</a>,&nbsp;but the firm hasn’t followed through with those plans yet. 
Kraken recently ended support for the Monero (<a href="https://cointelegraph.com/xmr-price-index">XMR</a>)&nbsp;privacy token for its Belgium and Ireland customers in April. 
Meanwhile, the crypto exchange has continued to expand its services in Europe. 
It recently secured a <a href="https://cointelegraph.com/news/kraken-secures-vasp-registration-netherlands">virtual asset service provider</a> registration in Spain and the Netherlands, as well as an <a href="https://cointelegraph.com/news/kraken-secures-money-license-registrations-spain-ireland">electronic money institution</a> license in Ireland.
Magazine:&nbsp;<a href="https://cointelegraph.com/magazine/crypto-inevitable-all-in-meet-vance-spencer/">‘Crypto is inevitable’ so we went ‘all in’: Meet Vance Spencer, permabull</a>

Crypto exchange Kraken has ‘no plans’ to delist USDT in Europe for now

Cointelegraph

Other articles published on May 20, 2024

Altcoin rally next? Litecoin whales are waking up

Bitcoin ETF in US Regains Momentum with Almost $1 Billion Weekly Inflows

New Cryptocurrency Releases, Listings, & Presales Today – RunesBridge, XRootAI, Flame

New York Attorney General concludes $2b Genesis settlement

Top 5 Altcoins with Strong Community Support

CPI report spurs $932M inflows into crypto investment funds

Join our free newsletter for daily crypto updates!