Shift

Bitcoin

<h4><strong>Among the stablecoins affected are DAI, FRAX, GUSD, USDP, TUSD, and <a href="https://www.altcoinbuzz.io/?s=USDT" target="_blank" rel="noopener">USDT</a>. </strong></h4> 
<p>This move signals a significant shift in compliance requirements within the cryptocurrency sector. It particularly concerns stablecoin issuers and their adherence to regulatory standards.</p> 
<h5><strong>Regulatory Shift Impacts Crypto Stability</strong></h5> 
<p>The decision to delist these stablecoins appears rooted in Uphold’s interpretation of the MICA regulations. This imposes stringent requirements on stablecoin issuers. These regulations mandate clear provisions for reserve backing, operational compliance, and consumer protection measures. Uphold has not explicitly detailed the exact reasons for delisting each stablecoin, but it is speculated that some may not fully comply with one or more of these crucial regulatory stipulations.</p> 
<p>Stablecoins like USDC, EURC, and <a href="https://www.altcoinbuzz.io/?s=PYUSD" target="_blank" rel="noopener">PYUSD</a>, which Uphold continues to support, are likely those that meet or exceed the stringent criteria set forth by MICA. USDC, for instance, is known for its robust regulatory compliance framework and transparent reserve backing, making it a preferred choice for platforms aiming to align with regulatory standards.</p> 
<p><img decoding="async" class="wp-image-143332 aligncenter" src="https://www.altcoinbuzz.io/wp-content/uploads/2024/06/vcxddfsfdssdf-192x300.jpg" alt="" width="419" height="655" srcset="https://www.altcoinbuzz.io/wp-content/uploads/2024/06/vcxddfsfdssdf-192x300.jpg 192w, https://www.altcoinbuzz.io/wp-content/uploads/2024/06/vcxddfsfdssdf-268x420.jpg 268w, https://www.altcoinbuzz.io/wp-content/uploads/2024/06/vcxddfsfdssdf.jpg 384w" sizes="(max-width: 419px) 100vw, 419px"></p> 
<h6 style="text-align: center;"><strong>Source: <a href="https://x.com/DavidShares/status/1802805524326502505" target="_blank" rel="noopener">X</a></strong></h6> 
<p>The delisting of these stablecoins underscores the growing importance of regulatory compliance in the cryptocurrency space. As governments worldwide move to establish clearer frameworks for digital assets, exchanges, and issuers alike face increasing pressure to ensure adherence to these evolving standards.</p> 
<h5><strong>More About Uphold</strong></h5> 
<p>Uphold Vault has launched <a href="https://www.altcoinbuzz.io/?s=bitcoin" target="_blank" rel="noopener">Bitcoin</a> support, allowing users to securely store and manage their Bitcoin holdings. This expansion of Uphold’s services provides customers with a trusted platform to safeguard their BTC investments.</p> 
<p><img decoding="async" class="wp-image-143335 aligncenter" src="https://www.altcoinbuzz.io/wp-content/uploads/2024/06/vcxvxcxvcxvcvxc-196x300.png" alt="" width="416" height="637" srcset="https://www.altcoinbuzz.io/wp-content/uploads/2024/06/vcxvxcxvcxvcvxc-196x300.png 196w, https://www.altcoinbuzz.io/wp-content/uploads/2024/06/vcxvxcxvcxvcvxc-274x420.png 274w, https://www.altcoinbuzz.io/wp-content/uploads/2024/06/vcxvxcxvcxvcvxc.png 392w" sizes="(max-width: 416px) 100vw, 416px"></p> 
<h6 style="text-align: center;"><strong>Source: <a href="https://x.com/UpholdInc/status/1777715844157423942" target="_blank" rel="noopener">X</a></strong></h6> 
<p>Uphold’s commitment to expanding its offerings underscores its mission to provide reliable and innovative financial services in the digital asset landscape, catering to the growing demand for secure storage solutions for cryptocurrencies like Bitcoin.</p> 
<p><a href="https://www.patreon.com/altcoinbuzz" target="_blank" rel="noopener"><img decoding="async" class="alignnone size-full wp-image-123700" src="https://www.altcoinbuzz.io/wp-content/uploads/2023/09/Alpha_website_leaderboard-banner.jpg" sizes="(max-width: 1197px) 100vw, 1197px" srcset="https://www.altcoinbuzz.io/wp-content/uploads/2023/09/Alpha_website_leaderboard-banner.jpg 1197w, https://www.altcoinbuzz.io/wp-content/uploads/2023/09/Alpha_website_leaderboard-banner-300x37.jpg 300w, https://www.altcoinbuzz.io/wp-content/uploads/2023/09/Alpha_website_leaderboard-banner-1024x127.jpg 1024w, https://www.altcoinbuzz.io/wp-content/uploads/2023/09/Alpha_website_leaderboard-banner-768x95.jpg 768w, https://www.altcoinbuzz.io/wp-content/uploads/2023/09/Alpha_website_leaderboard-banner-696x86.jpg 696w, https://www.altcoinbuzz.io/wp-content/uploads/2023/09/Alpha_website_leaderboard-banner-1068x132.jpg 1068w" alt="" width="1197" height="148"></a></p> 
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<h6><strong>Disclaimer</strong></h6> 
<p>The information discussed by Altcoin Buzz is not financial advice. This is for educational, entertainment, and informational purposes only. Any information or strategies are thoughts and opinions relevant to the accepted risk tolerance levels of the writer/reviewers and their risk tolerance may be different than yours. We are not responsible for any losses you may incur due to any investments directly or indirectly related to the information provided. Bitcoin and other cryptocurrencies are high-risk investments so please do your due diligence. Copyright Altcoin Buzz Pte Ltd.</p> 
<p>The post <a href="https://www.altcoinbuzz.io/cryptocurrency-news/uphold-delists-stablecoins-amid-new-eu-regulations/">Uphold Delists Stablecoins Amid New EU Regulations</a> appeared first on <a href="https://www.altcoinbuzz.io">Altcoin Buzz</a>.</p>

Uphold Delists Stablecoins Amid New EU Regulations

Altcoin Buzz

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