Crypto exchange Kraken has ‘no plans’ to list USDT in Europe
Cryptocurrency exchange Kraken currently has no plans to delist Tether (USDT) in Europe. Despite a recent report saying the company is “actively reviewing” the decision to remain legally compliant.
“[Kraken] In Europe, the US dollar continues to register and we have no plans to cancel it at this time, said Mark Greenberg, Kraken's head of global asset development and management, in a May 18 X Post.
The company will continue to comply with all legal requirements — even those it disagrees with — Greenberg reiterated. However, the rules are not finalized yet and we will do our best to continue providing all relevant stablecoins to our European customers.
A May 17 article from Bloomberg reported that Kraken is “actively evaluating” plans for EU emerging markets to comply with the Crypto Assets Regulation (MiCA) framework.
“We're absolutely planning for all eventualities, including situations where it's impossible to list a specific token like USDT,” said Marcus Hughes, Kraken's head of global regulatory strategy at the time.
“It's something we're actively reviewing, and as the position becomes clearer, we can make firm decisions on that.”
The rules applicable to stagcoins under MiCA will take effect on June 30, while the cryptocurrency service provider rules will take effect six months later on December 30.
Related: Kraken exchange launches self-sustaining crypto wallet following other CEXs.
Okex, one of Kraken's biggest competitors, moved to delist USDT in Europe in March.
Binance announced plans to make a similar decision last September — citing the need to comply with MiCA — but the company has yet to follow through on those plans.
Kraken recently ended support for the Monero privacy token (XMR) for its customers in Belgium and Ireland in April.
Meanwhile, the crypto exchange continues to expand its services in Europe.
It recently obtained Virtual Asset Service Provider registration in Spain and the Netherlands, as well as an Electronic Money Institution license in Ireland.
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