The exchange plans to phase out these coins, with the final changeover taking place on March 31, 2025.
Kraken is removing Tether (USDT) and four other stablecoins from the European Economic Area (EEA) in response to the upcoming Markets in Crypto Assets (MiCA) crypto regulations.
The exchange will gradually phase out these coins, with the final changeover occurring on March 31, 2025. Margin trading for the affected stablecoins will enter "reduce-only" mode on February 13 and "sell-only" mode on February 27. All margin positions will be closed by March 17, and spot trading and active orders will be canceled by March 24.
The stablecoins being removed are Tether (USDT), PayPal USD (PYUSD), Euro Tether (EURT), TrueUSD (TUSD), and TerraClassicUSD (UST). Kraken is giving users ample time to swap their holdings before the cutoff, and any remaining balances will be converted into a compliant stablecoin.
These changes will only affect clients within the EEA, which includes Germany, Spain, France, Sweden, and 26 other countries. Any impacted assets deposited after the deadlines can only be withdrawn, Kraken confirmed.
Other exchanges have also implemented similar measures. Crypto.com is removing USDT and nine other stablecoins from its platform today, while Coinbase delisted these stablecoins from its European platform in December 2024.
Disclaimer:info@kdj.com
The information provided is not trading advice. kdj.com does not assume any responsibility for any investments made based on the information provided in this article. Cryptocurrencies are highly volatile and it is highly recommended that you invest with caution after thorough research！
If you believe that the content used on this website infringes your copyright, please contact us immediately (info@kdj.com) and we will delete it promptly.
