The trading platform OKX has announced the cessation of access to the stablecoin Tether (USDT) for its users in the European Union. This decision was made in anticipation of the implementation of a new regulatory standard for cryptocurrencies known as MiCA (Markets in Crypto-Assets), which will come into effect on December 30, 2024. Under this legislation, the use of certain stablecoins will be restricted in the region. According to information from OKX representatives, USDT became unavailable for European traders starting from March 14, 2024, although the exchange website still indicated on March 15 that trading pairs with USDT remained available. This decision underscores the impact of regulatory changes on the availability of certain cryptocurrency assets and services in different regions.
OKX, one of the largest cryptocurrency exchanges in the world, founded in 2013 and based in Hong Kong, offers a wide range of services including spot trading, margin trading, futures, and others. The platform also has its own cryptocurrency OKB, which provides users with preferential conditions and the opportunity to participate in various promotions.
