Coinbase's Move to Delist Unauthorized Stablecoins Amid MICA Regulations
Friday, 4 October 2024, 14:31
Regulatory Pressure on Coinbase
In a significant move, Coinbase has announced plans to delist unauthorized stablecoins in the EU by December. This initiative arises in response to new regulations set forth by the Markets in Crypto-Assets (MICA) framework, which impacts cryptocurrencies significantly.
The Impact of MICA on Stablecoins
According to the MICA regulations, it is imperative for all stablecoin issuers to secure proper licensing. Currently, Tether, the largest stablecoin issuer globally, has failed to obtain the necessary e-money license within the EU jurisdiction.
Implications for the Crypto Market
- This move from Coinbase highlights the evolving landscape of the crypto market.
- Exchanges will need to review their stablecoin offerings in line with regulatory standards.
- Users and investors should stay informed on the implications of these regulatory decisions.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.