Uphold: Will end support for stablecoins such as USDT and DAI before the European crypto bill MiCA takes effect

ChainCatcher reported that according to Crypto Briefing, New York cryptocurrency exchange Uphold announced that due to the European Economic Area (EEA)’s upcoming Crypto Asset Market (MiCA) regulation to be implemented on June 30, the platform will stop supporting a variety of stablecoins from July 1.

It is reported that the affected stablecoins include Tether (USDT), Dai (DAI), Frax Protocol (FRAX), Gemini Dollar (GUSD), Pax Dollar (USDP) and TrueUSD (TUSD). Uphold recommends that users convert the relevant stablecoins they hold before June 27 to avoid automatic conversion to USDC on June 28.