Focusing on MiCA-compliant stablecoins to end URT support

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Tether is ending support for Euro-Peuge's stablecoin EURT due to regulatory changes. Tether will focus on EURQ and USDQ, MiCAR-compliant stablecoins, in partnership with Quantoz Payments.

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Tether said on Wednesday it would no longer support the euro-pegged stablecoin EURT. Instead, the company is shifting its focus to new projects, including stablecoins that meet existing markets in Crypto Assets (MiCA) regulations.

The leading stablecoin distributor has announced that it will stop creating EURT from 2022. EURT holders must redeem their tokens on all blockchains by November 27, 2025.

Tether first announced plans to end EURT on several blockchains, such as Omni, Kusama, SLP, EOS, and Algorand, starting September 1, 2025.

However, in accordance with the upcoming MiCA legislation, Tether has decided to prioritize initiatives that comply with the new standards, including MiCA-compliant stablecoins, EURQ and USDQ, powered by Tether Hadron technology.

Hadron The Hadron platform, also known as Tether, provides tools for stablecoin mining, blockchain interoperability, compliance and anti-money laundering management, the company said.

“Until a more risk-averse framework is in place — one that encourages innovation and gives our consumers the stability and protection they deserve — we've chosen to prioritize other initiatives,” Teter said.

The MiCA rules are expected to be fully implemented by December 30, 2024. The regulations have been applied to stablecoins since June this year, particularly asset-linked tokens and e-money tokens.

The regulation imposes stricter rules on stablecoins operating in the European Economic Area (EEA).

In response to the MiCA rules, several crypto exchanges have announced the cancellation of the EURT as well as the Tether USDT stablecoin.

Bitstamp was one of the first to list EURT and decided to delist before the end of June 2024. OKX has also taken steps to comply with MiCA by canceling certain stablecoin pairs, including EURT.

Uphold has chosen to delist USDT and six other stablecoins from its platform for European users.

Binance has restricted access to certain stablecoins, including EURT, as part of compliance measures.

Although Kraken initially reviewed the offer, it has not officially announced the cancellation of EURT but is considering complying with MiCA regulations.

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