Kraken to Halt USDT Trading in Europe by March 31 Amid MiCA Regulations
Kraken, a prominent cryptocurrency exchange, has announced plans to discontinue trading of Tether (USDT) and certain other stablecoins for its European users by March 31, 2025. This decision is in response to the European Union's Markets in Crypto-Assets (MiCA) regulations, which impose stricter compliance requirements on crypto assets.
In an email to its clients within the European Economic Area (EEA), Kraken specified that it will delist USDT, Tether's euro-pegged stablecoin, PayPal's PYUSD, UST, and TUSD. The exchange emphasized its commitment to adhering to evolving regulatory standards and ensuring the security and compliance of its platform.
This move aligns with actions taken by other exchanges in anticipation of MiCA's implementation. For instance, Coinbase previously announced the delisting of USDT for European customers to comply with upcoming regulatory requirements. ([cointelegraph.com](https://cointelegraph.com/news/tether-usdt-trading-eu-coinbase-delisting?utm_source=chatgpt.com))
The MiCA framework, set to be enforced later this year, aims to establish a comprehensive regulatory environment for cryptocurrencies within the EU. It introduces specific guidelines for stablecoins, including reserve requirements and operational mandates, to enhance transparency and consumer protection.
Kraken's proactive approach reflects the broader industry's adaptation to regulatory changes, ensuring continued compliance and fostering trust among its European user base.
