Stablecoin

Cryptocurrency

USDC

<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/coinbase-acts-to-remove-non-compliant-stablecoins" data-wpel-link="internal" rel="noopener noreferrer nofollow">Coinbase Acts to Remove Non-Compliant Stablecoins</a><br></p>
<p style="text-align: justify">Significant changes are underway for cryptocurrency exchanges operating within the European Economic Area as they must now align with the new MiCA regulations. This legislative framework represents one of the most extensive regulatory measures introduced globally for the cryptocurrency industry. As a result, various stablecoins will no longer be accessible to investors in the region.</p>
<h2 style="text-align: justify" id="why-is-coinbase-delisting-stablecoins">Why is Coinbase Delisting Stablecoins?</h2>
<p style="text-align: justify">To adhere to the EU’s MiCA requirements, Coinbase, the leading U.S. cryptocurrency exchange, plans to remove unlicensed stablecoins from its platform by December 30, 2024. This move aims to ensure compliance with the regulatory standards that affect stablecoins in the European Economic Area.</p>
<h2 style="text-align: justify" id="what-will-happen-to-stablecoin-availability">What Will Happen to Stablecoin Availability?</h2>
<p style="text-align: justify">Under the MiCA regulations, stablecoins must secure an authorization license from at least one EU member state. Many of these coins will encounter limitations if they do not comply with this requirement by the deadline. Notably, <a href="https://en.bitcoinhaber.net/tethers-dominance-and-crackdown-on-illicit-activities" data-wpel-link="internal" rel="noopener noreferrer nofollow">Tether</a> has yet to acquire an e-money license across the 27 EU nations.</p>
<p style="text-align: justify">– Coinbase’s removal of non-compliant stablecoins aims to enhance regulatory adherence.<br> – USDC and PYUSD have secured licenses, while <a href="https://en.bitcoinhaber.net/tether-advances-into-ai-with-talent-recruitment-and-open-source-models" data-wpel-link="internal" rel="noopener noreferrer nofollow">USDT</a> faces potential market share challenges.<br> – Regulatory pressure is increasing, prompting cryptocurrency firms to bolster compliance efforts.</p>
<p style="text-align: justify">With the evolution of global cryptocurrency regulations, additional restrictions are anticipated. Governments are exploring KYC measures for decentralized finance protocols, similar to the EU’s licensing mandates. Cryptocurrency firms that once operated in regulatory gray areas now face stricter scrutiny and potential penalties for non-compliance.</p>
<h5><span style="font-weight:bold;font-size:16px">Continue Reading: </span> <a href="https://en.bitcoinhaber.net/coinbase-acts-to-remove-non-compliant-stablecoins" data-wpel-link="internal" rel="noopener noreferrer nofollow">Coinbase Acts to Remove Non-Compliant Stablecoins</a></h5>

Coinbase Acts to Remove Non-Compliant Stablecoins

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