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 Hiding Place 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, hiding places will be stored in your inventory and can be opened with Keys.

Other news

US Treasury Acts Against MEXC Global for Illegal Transactions.

The US Treasury's FinCEN has issued a measure prohibiting US financial institutions from processing transfers involving MEXC Global due to $16 billion in illicit transactions linked to sanctions evasion and cybercrime.

user avatarSatoshi Nakamura

Yaroch's Theft Compromises Investigations and Raises Security Concerns

Yaroch's fraudulent activities compromised investigations and raised security concerns regarding cryptocurrency managed by government agencies.

user avatarJesper Sørensen

Former FBI Agent Admits to Stealing $25 Million in Cryptocurrency

Former FBI agent Patrick Steven Yaroch pleaded guilty to stealing nearly $25 million in cryptocurrency from federal investigations, compromising sensitive operations.

user avatarRajesh Kumar

Labor Department Submits Crypto Retirement Rule for Review

The Labor Department's proposal includes guidelines for evaluating cryptocurrencies as investment options.

user avatarLucas Weissmann

Political Opposition to Crypto in Retirement Plans

Lawmakers express concerns over the risks of including cryptocurrencies in retirement savings.

user avatarEmily Carter

Trump Administration Proposes Crypto Inclusion in Retirement Plans

The US Department of Labor has proposed a regulatory framework to include cryptocurrencies in 401k plans, potentially opening a $10 trillion retirement market, pending White House approval.

user avatarFilippo Romano

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.