Coinbase Limits Stablecoins Trading in Europe

user avatar

by Giorgi Kostiuk

2 years ago

Coinbase is set to restrict the trading of certain stablecoins in Europe starting in December. This is due to regulatory requirements laid out in the MiCA framework.

Reasons for the Restrictions

Coinbase announced the cessation of trading in certain stablecoins, like Tether, for European users. This decision is due to the demands of the new regulatory framework MiCA (Markets in Crypto-Assets), coming into effect in December.

Tokens to be Delisted

Starting December 13, Coinbase will stop trading stablecoins such as PAX, PYUSD, GUSD, GYEN, and DAI, which were categorized as MiCA noncompliant. Meanwhile, trading support for stablecoins like USDC and EURC will continue, thanks to Circle's acquisition of a license under MiCA.

Future of Tether and Other Stablecoins

Reportedly, Tether has not responded to the delisting news in Europe. The company's head had earlier mentioned intentions to continue serving EU customers despite MiCA's new regulations, which he claimed could pose risks for stablecoins. Overall, Tether focuses on emerging markets such as Latin America and Southeast Asia, although the company is exploring opportunities to expand in the US market.

The introduction of new MiCA regulatory requirements in Europe impacts the stablecoin market, creating new restrictions and challenges for companies operating in this area.

Tier I

Sector: #18291

Sealed Cache Room

Resource Cache

Resource Cache

Tier I

Requires 25% Tier Progress to Claim
Meme Cache

Meme Cache

Tier I

Requires 50% Tier Progress to Claim
Equipment Cache

Equipment Cache

Tier I

Requires 75% Tier Progress to Claim

After collecting, caches will be stored in your inventory and can be opened with Keys.

Other news

Zcash's Impressive Market Performance and ETF Launch

chest

Zcash has experienced a remarkable price increase, gaining over 2,300% in the past year, aided by the launch of Grayscale's Zcash ETF.

user avatarLucas Weissmann

Zcash Surpasses $1,000 Mark, Achieving New All-Time High

chest

Zcash's price broke above $1,000 for the first time in nearly a decade, marking a significant milestone in its market performance.

user avatarRajesh Kumar

Trezor Implements New Security Measures After Data Breach

chest

Trezor is enhancing security measures, including anonymous delivery options, in response to a data breach affecting 67,000 customers.

user avatarFilippo Romano

Data Breach Affects 67,000 Trezor Customers

chest

A data breach at shipping provider ShipMonk has exposed personal information of 67,000 Trezor customers in the US.

user avatarEmily Carter

BAI Establishes Global Settlement Layer for AI Agents to Enhance Collaboration

chest

BAI is building a global settlement layer to enhance collaboration and efficiency among AI agents across various workflows.

user avatarTomas Novak

BAI Launches Free Access to Premium AI Models, Surpassing 133 Trillion Daily Tokens

chest

BAI has launched free access to its premium AI models, leading to a significant increase in platform activity and user adoption.

user avatarKaterina Papadopoulou

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.