Kraken may delist USDT in the EU due to compliance with MiCA regulations. However, as of press time, a Kraken spokesperson said that there are currently no plans to delist Tether.
A recent report from Bloomberg mentioned that cryptocurrency exchange Kraken is considering delisting Tether (USDT) from its European Union (EU) platform in light of the upcoming Markets in Crypto Assets (MiCA) regulations.
The European Union is setting up MiCA regulations for cryptocurrency exchanges, specifically targeting stablecoins like Tether’s USDT. The rules, which will be enforced from July, could restrict how these stablecoins can be offered in the EU.
In an interview on Thursday, Marcus Hughes, Kraken’s head of global regulatory strategy, said they are waiting for clearer guidance on the rules before making a final decision.
“We are absolutely planning for all eventualities, including those where we may not be able to list a particular token, such as USDT,” Hughes said. “This is something we are actively reviewing, and as the position becomes clearer, we can make a firm decision.”
In response to Kraken’s considerations, Tether stressed the importance of focusing on euro liquidity for European clients while maintaining USDT as a trading gateway.
Tether CEO Paolo Ardoino also expressed concerns about some of the MiCA requirements and said Tether will continue to engage with regulators. However, the company does not intend to be regulated by MiCA in the medium term.
The MiCA regulations aim to establish a licensing regime for stablecoin issuers and impose stricter corporate governance and reserve management requirements.
Kraken anticipates that many stablecoins currently available in the EU may be delisted under MiCA.
Hughes added: “This is an evolving situation. What is clear to us is that stablecoins of the type and volume currently available in Europe are unlikely to continue to be available in the future. At some point in the future there will be a cut-off point where this will no longer be possible. Much will depend on which assets are appropriately registered under the e-money regime in the EU.”
Kraken issued the following statement to reporters:
“There are currently no plans to delist Tether or change our USDT trading pairs. As a leading cryptocurrency exchange, we continuously evaluate our global strategy and operations to ensure we remain compliant at all times, both now and in the future. We are committed to complying with the rules and continuing our mission to accelerate the adoption of this asset class.”
As the European Banking Authority finalizes technical standards for MiCA, exchanges like Kraken are preparing for a future where the current range of stablecoins may no longer be sustainable in Europe.
Another major cryptocurrency exchange, OKX, already restricted USDT functionality in the European Union earlier this year.
Conclusion:
As the cryptocurrency industry develops and the regulatory environment continues to change, Kraken Exchange is carefully evaluating its business strategy in the EU in the face of the upcoming MiCA regulations. Although there are no plans to delist Tether (USDT) at present, Kraken is actively preparing for possible market changes to ensure compliance and continue its mission as a leading cryptocurrency exchange.
The implementation of the MiCA regulations indicates that the supervision of stablecoins will be stricter, which is not only a challenge for exchanges, but also an opportunity to promote the entire industry to develop in a more mature and standardized direction.
In the future, we may see significant changes in the way stablecoins are provided and used, and the adaptation strategies of exchanges such as Kraken and OKX will have a profound impact on the future landscape of the cryptocurrency market. #Kraken $USDT #欧盟 #MiCA法规
