The management of the American parent company Coinbase (NASDAQ:COIN) announced that due to the implementation of the European Market in Crypto-Assets Regulation (MiCA), the cryptocurrency exchange will delist USDT, PAX, PYUSB, USB, QUYEN, and DAILY on its trading platforms Coinbase Europe and Coinbase Germany. The restrictions will take effect at 11:59 Central European Time on December 13.
Coinbase promises to continue supporting USD Coin and the euro-pegged stablecoin EURC (EURC), co-managed by Coinbase and the American company Circle.
European Coinbase clients are encouraged to convert their assets from MiCA non-compliant cryptocurrencies to other stablecoins, such as USD Coin (USDC).
Tether's CEO Paolo Ardoino stated that his company will cease supporting the euro-pegged stablecoin EURT due to low demand and tightening regulations in the European Union. Bits.Media reported on the situation regarding the restrictions on the circulation of Tether stablecoins and similar digital assets that do not comply with MiCA regulations.