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Cryptocurrency News Articles
Coinbase crypto exchange decided to terminate support for USDT stablecoin following the upcoming MiCA’s measures regarding stablecoin regulation
Oct 05, 2024 at 05:14 pm
As we know, the European Union (EU)’s crypto market is now under a full regulatory framework under the umbrella of Markets In Crypto Assets (MiCA).
Coinbase crypto exchange will terminate support for stablecoins that fail to meet the regulatory criteria set forth by the European Union (EU) Markets in Crypto Assets (MiCA) framework.
According to a recent tweet by Wu Blockchain, Coinbase will be delisting stablecoins that do not adhere to the MiCA regulations by December 30, 2024. Notably, the upcoming stablecoin regulatory measures will come into effect on the same date.
Coinbase will reportedly be removing stablecoins that fail to meet EU’s new MiCA regulations by December 30, 2024. Among the stablecoins at risk are BUSD, USDP, GUSD, and IDRT.
Stablecoins like USDT, USDC, and BUSD to be impacted by Coinbase’s latest decision in the EUhttps://t.co/0000666666
Stablecoins that may be impacted by Coinbase’s latest decision in the EU include Tether (USDT), Binance USD (BUSD), Pax Dollar (USDP), Gemini Dollar (GUSD), and IDRT.
As the world’s largest stablecoin by a significant margin, Tether’s delisting by Coinbase is bound to have a major effect on the crypto market liquidity in the EU.
Interestingly, Tether CEO Paolo Ardoino has stated that the company is working on a new technology solution to help them overcome these regulatory limitations.
“Tether is developing a technology-based solution, which we will unveil in due course and will be tailor-made to serve the necessities of the European market. We’re very excited about our upcoming product strategy.”
Tether to Unveil New Tech Solution for European Market https://t.co/yRYo8ElSIw
Among the major stablecoins, Circle’s USD Coin (USDC) is known to be Markets in Crypto Assets-compliant, which means that it will not face the risk of being delisted or suspended by any crypto platform within the jurisdiction of EU member countries.
Meanwhile, Ripple’s stablecoin, RLUSD, which is set to launch next year, is also expected to be fully compliant with MiCA regulations. Notably, XRP will serve as an auto-bridge currency for every RLUSD transaction.
🚨JUST IN: Major exchange Coinbase will delist non-compliant stablecoins in the EU in December!Only Ripple's stablecoin $RLUSD and $USDC are MiCA-compliant!$RLUSD will launch this year. #XRP will be an auto-bridge currency for every $RLUSD transaction! pic.twitter.com/Of39WSjCuq
In other news, a recent report by Arcane Research highlighted that XRP is outperforming Bitcoin (BTC) and Ethereum (ETH) in terms of year-to-date (YTD) returns.
Disclaimer:info@kdj.com
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- Bitcoin Core 28.0 Released: New Update Enhances Security and Privacy While Supporting Reproducible Builds
- Oct 05, 2024 at 10:25 pm
- The Bitcoin (BTC) development team has announced the launch of the Bitcoin Core 28.0 version as part of its extensive plans of subjecting the BTC mainnet to performance improvement and fixing major bugs to maintain decentralization.