Coinbase announced Friday it intends to delist non-compliant stablecoins in the European Union by the end of the year, Bloomberg has reported.
The company stated that it is committed to compliance and will limit its services for users in the European Economic Area to stablecoins that comply with the regulations of the Markets in Crypto Assets (MiCA) guidelines as of December 30, 2024.
Access more than 50 of the world's financial markets directly from your EXANTE account – including NASDAQ, London Stock Exchange and Tokyo Stock Exchange
These guidelines require issuers of stablecoins to obtain an e-money licese in at least one EU member state and comply with strict rules on the assets backing their stablecoins.
USDT has not yet obtained an e-money license, unlike its closest competitor Circle, which launched USDC and EURC stablecoins and became the first official e-money institution in the EU in July.