A Kraken executive denied exchange plans to delist Tether’s USDT stablecoin in Europe on May 18.
Global Head of Asset Growth & Management Business Mark Greenberg said the company is investigating “all options to offer USDT under the coming regime.”
Greenberg added that the company will comply with all legal requirements, including those it opposes, claiming that the regulations have not yet been finalized.
The company’s plans to maintain its offering extend beyond USDT. Greenberg said:
“…We continue to do everything we can to continue offering all relevant stablecoins to our European customers.”
Greenberg did not mention the regulations in question. However, the relevant regulatory regime is the EU’s Markets in Crypto-Assets (MiCA), which comes into effect in July. MiCA requires fiat-backed stablecoin issuers to register as electronic money institutions (EMIs) and meet other requirements.
Greenberg added that Kraken is working to relist certain coins that have been delisted in Germany. He did not specify the coins.
Previous statements
On May 17, Bloomberg suggested that Kraken could delist USDT in the EU based on statements from Kraken Global Head of Regulatory Strategy Marcus Hughes.
In an interview, Hughes said the exchange may face circumstances where it is “not sustainable to list specific tokens like USDT” in the EU. He also warned that MiCA could more broadly reduce the number and types of stablecoins available in the region.
Shortly after Bloomberg’s report, The Block quoted a Kraken spokesperson as denying plans to remove or change USDT trading pairs. The spokesperson nevertheless acknowledged that the company “continuously evaluate [its] global strategy and operationsfor compliance.
USDT issuer Tether also told Bloomberg that it expects EU exchanges to maintain their USDT trading pairs amid the changing regulations.
Another exchange, OKX, has delisted USDT in Europe but plans to continue listing USDC.
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