Coinbase to Delist Three Stablecoins for Canadian Users
Key Points:
– Coinbase has announced that it will delist the stablecoins RAI, DAI, and USDT for its Canadian users.
– The delisting is due to the stablecoins’ failure to meet Coinbase’s listing standards.
– Canadian authorities may have influenced this decision, as they consider stablecoins to be securities.
– Coinbase has not delisted its own stablecoin USDC, which is a direct competitor to USDT.
– Coinbase has not yet obtained full registration in Canada and is operating under a pre-registration undertaking.
Hot Take:
Coinbase’s decision to delist three stablecoins for Canadian users raises questions about the influence of Canadian authorities and their classification of stablecoins as securities. It also highlights Coinbase’s ongoing efforts to gain full registration in Canada and potentially dominate the crypto market in the absence of Binance. The delisting may have implications for the stablecoin industry and competition between USDT and USDC.
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