Coinbase to delist all unauthorized stablecoins by year-end to comply with EU’s new MICA regulations.
Terra’s USDT, the largest stablecoin by market cap, might be delisted as it hasn’t yet received authorization in Europe.
The move could impact USDT’s price and follows similar actions by other exchanges like Bitstamp and OKX.
Coinbase announced its plans to delist all unauthorized stablecoins from its platform by the end of the year due to new MiCA requirements. The exchange is focusing on tokens in the European Economic Area as the European Union prepares to introduce new policies for the cryptocurrency industry.
The Markets in Crypto-Assets Regulation (MiCA) will primarily focus on crypto assets not yet regulated by existing financial services regulations.
The new framework aims to:
Strengthen the integrity of the cryptocurrency market
Ensure financial stability by regulating public offerings of crypto assets
Educate consumers about the potential risks of digital currencies.
Under the new regulation, stablecoin issuers must obtain electronic money authorization in at least one member state. This rule took effect on June 30th, and poli…
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