Kraken to delist USDT, 4 other stablecoins in Europe

Kraken has announced plans to delist Tether (USDT) and four other stablecoins in the European Economic Area (EEA) by March 31, 2025, in response to the new Markets in Crypto-Assets (MiCA) regulations.

This decision follows a phased approach to ensure compliance with the upcoming regulatory framework, which requires stablecoin issuers to be licensed as electronic money institutions within the European Union.

In addition to USDT, other stablecoins to be delisted include PayPal USD (PYUSD), Euro Tether (EURT), TrueUSD (TUSD), and TerraUSD (UST).

This move by Kraken aligns with similar actions taken by other platforms like Crypto.com and Coinbase, reflecting a wider trend among crypto platforms to adapt to regulatory changes in Europe.

Previously, crypto.com shared that the platform will delist Tether's USDT and nine other tokens for European users effective January 31, 2025. This decision is a direct response to new Markets in Crypto Assets (MiCA) regulations implemented by the EU.

Users must convert their holdings to MiCA-compliant assets before March 31, 2025. After this date, any remaining USDT will be automatically converted to compliant alternatives, which may not align with user preferences or expectations.

Users are encouraged to act promptly to avoid automatic conversions and make sure they can manage their assets according to their preferences. This situation may create urgency among users to familiarize themselves with compliant alternatives available on Kraken or other exchanges.

Overall, the delisting signifies a shift in the regulatory landscape for crypto in Europe, affecting how users interact with stablecoins like USDT.

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