Tether (USDT) Continues to Trade Across Europe Despite Coinbase Delisting Ahead of MiCA Deadline

Tether (USDT) Continues to Trade Across Europe Despite Coinbase Delisting Ahead of MiCA Deadline

Cryptocurrency exchanges in Europe are continuing to support Tether’s USDt (USDT) stablecoin, despite Coinbase’s decision to delist the asset for its European customers. This move comes as the final implementation of the Markets in Crypto-Assets Regulation (MiCA) approaches, with the regulation set to take full effect on December 30.


While Coinbase suspended trading of USDT on December 13 to comply with MiCA's evolving regulatory framework, several other leading crypto platforms, including Binance, Crypto.com, Kraken, and KuCoin, have retained support for the stablecoin. These exchanges are continuing to offer USDt trading to European users, signaling that they have not yet made the decision to follow Coinbase’s lead. Other platforms, such as MEXC and Bitget, are also listing USDT, despite the looming regulatory deadline.


MiCA Regulation and the Stablecoin Landscape

The Markets in Crypto-Assets Regulation (MiCA), which aims to regulate the cryptocurrency industry across the European Union, has already been partially in effect since June. However, its stablecoin framework—considered a critical part of the new regulations—will come into full force at the end of the month. As a result, exchanges operating in Europe are facing a choice regarding their support for certain stablecoins like Tether (USDT).


Although Coinbase has already delisted USDT, the European regulatory stance on the stablecoin remains somewhat unclear. European authorities have yet to officially declare USDT as non-compliant with MiCA, leaving many exchanges in a state of uncertainty.


Exchanges Hold Firm on USDT

Despite the regulatory pressure, many exchanges have maintained their support for USDT. Binance, Kraken, Crypto.com, and others continue to list the stablecoin for European users, with no indication of imminent delisting.


Meanwhile, exchanges such as OKX and Bitpanda have not made any official announcements regarding a potential delisting. As of December 17, both platforms still feature USDT on their European interfaces. OKX did note, however, that while USDT is still available, they are prioritizing EUR and USDC spot trading pairs for the European Economic Area (EEA). They also emphasized that any future delisting plans would be communicated publicly through official channels.


Bitpanda, on the other hand, declined to comment on its stance regarding the stablecoin’s future on their platform.


The Countdown to MiCA Compliance

With MiCA’s full implementation deadline quickly approaching, crypto exchanges across Europe have limited time to decide whether to retain or delist USDT. As regulatory clarity around stablecoins remains uncertain, exchanges will need to navigate MiCA’s stablecoin requirements carefully. While some, like Coinbase, have preemptively taken action, others may choose to hold off or adapt their policies in the coming weeks.


As the final MiCA deadline of December 30 draws nearer, the European crypto landscape is bracing for potential changes that could affect the availability of USDT and other stablecoins in the region. The outcome of these decisions will likely have broad implications for the future of stablecoin regulation in Europe, and for the exchanges that operate within its borders.

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