Google News
San Francisco-based cryptocurrency exchange Kraken is reportedly considering whether to withdraw support for stablecoin USDT in the European Union.
bloomberg report Kraken said it is “actively considering” European support for its Tether-issued stablecoin.
European digital asset industry associations and think tanks warned The EU’s Cryptoassets Market Regulation (MiCA) could ban the largest stablecoins by trading volume.
MiCA is an upcoming EU law that provides rules covering crypto asset supervision, consumer protection, and environmental protection. The law also includes measures aimed at reducing financial crimes such as market manipulation, money laundering and terrorist financing.the It is scheduled Scheduled to take effect in December 2024.
USDT It is the largest stablecoin by market capitalization and aims to maintain a 1:1 peg with the US dollar.
Marcus Hughes, Kraken’s global head of regulatory strategy, told Bloomberg that the company’s stablecoin offering is an “evolving landscape.”
“We are fully planning for any contingency, including a situation where listing a particular token like USDT is untenable. That is something we are actively considering. As the position becomes clearer, we can make firm decisions about it.”
Hughes acknowledged that the number of stablecoins that Kraken currently offers in Europe is likely to decrease.
Generated image: Mid Journey
Source of this program
“I love ingredients because they are incredible!”
“San Francisco-based cryptocurrency exchange Kraken is reportedly considering withdrawing support for its stablecoin USDT in the European Union. Bloomberg reports that Kraken is “actively “We are considering it,” the report said.
Source: Read more
Source link: https://cryptonews.com.au/news/crypto-exchange-kraken-mulls-pulling-support-for-top-stablecoin-usdt-in-the-eu-report-120925/
