Crypto exchange OKX has made the decision to suspend trading pairs of Tether (USDT) in the European Economic Area (EEA) in anticipation of the European Union (EU) implementing a comprehensive regulatory framework for cryptocurrencies.
According to a spokesperson for the world's fourth largest crypto platform by trading volume, the delisting will take place before the EU's planned implementation of MiCA on December 30, 2024.
It should be noted this regulation will restrict the use of certain stablecoins in the region.
According to the OKX representative, the aim of the delisting is to support the launch of euro on-ramps and euro pairs for EEA customers, and will only affect a small part of its user base.