• Dapps:16.23K
  • Blockchains:78
  • Active users:66.47M
  • 30d volume:$303.26B
  • 30d transactions:$879.24M

Stablecoins in Peril: Crypto Exchanges Make Changes

user avatar

by Giorgi Kostiuk

a year ago

Some crypto exchanges are planning to remove stablecoins due to new regulations, sparking concern among investors.

What are Stablecoins?

Stablecoins are digital assets tied to the value of fiat money, typically the US dollar. They offer a mix of fiat currency stability and cryptocurrency features, making them popular among users.

Removing Stablecoins from Exchanges

Decentralized exchanges, like Coinbase, plan to remove stablecoins from their offerings. Coinbase will not sell stablecoins in the EU starting January 1, 2025.

Given our commitment to compliance, we intend to restrict the provision of services to EEA users in connection with stablecoins that do not meet the MiCA requirements by December 30, 2024.Coinbase

EU Regulations and Their Impact

The EU has introduced MiCA, a comprehensive regulatory framework limiting stablecoin trade unless certain conditions are met. Companies like Circle have adapted, whereas others, like Tether, face challenges.

Tether commends EU regulators for their efforts in establishing a structured framework, as it plays a key role in fostering growth within the sector. However, as we have consistently expressed, some aspects of MiCA make the operation of EU-licensed stablecoins more complex and potentially introduce new risks to both local banking infrastructure and stablecoins themselves.Tether

The decision by exchanges to drop stablecoins is driven by new regulations. Initially affecting specific platforms, its wider impact is anticipated as other exchanges adopt similar policies.

0

Rewards

chest
chest
chest
chest

More rewards

Discover enhanced rewards on our social media.

chest

Other news

Gasoline Prices Drop Ahead of Record Holiday Travel

chest

Gasoline prices in the US have decreased, providing relief to travelers ahead of the holiday season.

user avatarZainab Kamara

Trump Confirms US Will Retain Seized Venezuelan Oil

chest

Trump confirms the US will retain seized Venezuelan oil and ships, using it as leverage against Maduro.

user avatarAndrew Smith

Oil Prices Remain Stable Amid Supply Concerns and Geopolitical Tensions

chest

Oil prices showed minimal movement as traders navigated between fears of conflict and oversupply forecasts.

user avatarJacob Williams

PEPE Holds Support as Bearish Momentum Fades

chest

PEPE is currently trading around the 000000398-000000400 region, showing limited upside momentum and lower highs over recent weeks. Immediate support is located near 000000390, which has prevented deeper pullbacks.

user avatarTando Nkube

PEPE Tests Key Support for Potential Bullish Reversal

chest

PEPE is testing a critical support zone, indicating potential for a bullish reversal if it holds above key levels.

user avatarAyman Ben Youssef

OpenEden Launches cUSDO, a Treasury-Backed Yield Stablecoin on Solana

chest

OpenEden has launched cUSDO, a fully collateralized and redeemable stablecoin on the Solana network, backed by US Treasuries.

user avatarSon Min-ho

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.