Coinbase to remove non-compliant stablecoins from European Union in December
2024-10-04 11:59:32
According to Bloomberg, Coinbase Global Inc. will remove all unauthorized stablecoins from its cryptocurrency exchanges by the end of the year, which will pose a potential blow to tokens such as Tether Holdings Ltd.'s USDT. The European Union is expected to fully implement new crypto industry regulations, the Crypto Asset Markets Act (MiCA), by the end of this year. According to the MiCA, regulations for stablecoin issuers have come into effect on June 30, requiring them to hold e-currency authorizations in at least one member state. While guidance for cryptocurrency exchanges and other companies operating in the European Union area will come into effect from December 31.
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