Coinbase To Delist USDT In Europe!

One of the leading cryptocurrency exchanges, Coinbase, has announced that it will delist Tether’s USDT stablecoin in Europe. This decision is seen as a step towards compliance with the European Union’s Markets in Crypto-Assets Regulation (MiCA). Coinbase stated that it may reassess the relisting of non-compliant stablecoins in the future.

Increasing Regulatory Pressure in Europe

As the process of adapting to European crypto regulations accelerates, platforms such as Coinbase Europe, Coinbase Germany, and Coinbase Custody International are preparing to remove non-MiCA-compliant stablecoins from their offerings. Effective December 13, Coinbase will restrict services not only for USDT but also for PAX, PYUSD, GUSD, GYEN, and DAI.

However, Coinbase has confirmed its continued support for USDC, which it co-developed with the U.S.-based Circle, and the Euro-backed stablecoin EURC.

MiCA Compliance Debates

While MiCA’s stablecoin regime came into effect on June 30, the full regulatory framework will be implemented by December 30. In October, Coinbase announced plans to delist non-compliant stablecoins, encouraging users to switch to alternatives like USDC. This shift could negatively impact USDT, which accounts for over $1 billion in daily trading volume on Coinbase.

Tether’s Response

Tether remains committed to maintaining its presence in the European market. The company is working on MiCA-compliant stablecoin solutions and developing technology-focused projects tailored to Europe. Tether has also partnered with Dutch fintech company Quantoz Payments to support new MiCA-compliant stablecoin initiatives.

Tether CEO Paolo Ardoino has expressed criticism of the regulations while emphasizing the company’s innovative approach in the European market. With these efforts, Tether aims to strengthen its position in Europe.

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