Denial of Kraken’s Plans to Delist Tether’s USDT in the European Union
An executive from Kraken, a US-based crypto exchange, refutes reports suggesting that the company intends to remove support for Tether (USDT) in the European Union.
Reviewing USDT Support Amid EU Stablecoin Regulations
- Concerns arise about a potential ban on major stablecoins like USDT, USDC, and BUSD in the EU due to non-compliance with MiCA regulations.
Mark Greenberg’s Statement on USDT Support
- Mark Greenberg, global head of asset growth and management business at Kraken, clarifies that the exchange has no current plans to delist USDT in Europe.
- Greenberg ensures that Kraken is working to make USDT available to EU customers in line with the upcoming MiCA regulations.
Regulatory Environment and EU’s Approach to Digital Assets
- The Markets in Crypto-Assets (MiCA) regulations will provide a standardized framework for regulating digital assets in EU member countries by December 2024.
- MiCA covers areas such as supervision, consumer protection, environmental safeguards, and measures against financial crimes in the crypto market.
According to Greenberg:
“We are committed to offering USDT to our European clients and exploring all options to comply with the new regulatory regime, even if we may disagree with certain aspects of the rules. We will continue to provide relevant stablecoins to our customers in Europe.”
Hot Take: Kraken Stands Firm on Supporting USDT in the EU
Kraken’s denial of plans to delist Tether’s USDT in European crypto exchanges reflects its commitment to serving its clients and adapting to regulatory changes in the digital asset market.
Sources:
X statement
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