- A Kraken spokesperson has said that the exchange would continue to support Tether.
- Other exchanges have taken bold measures in reaction to legislative changes in the EU.
Crypto exchange Kraken, has officially denied plans to delist Tether (USDT) in Europe. The news comes as concerns about the reliability and compliance with regulations of popular stablecoins like Tether (USDT) are growing in the cryptocurrency world. Investor mood and market dynamics are affected by Kraken’s position on the topic, which is significant for the whole crypto ecosystem as regulatory scrutiny rises.
A Kraken spokesperson has said that the exchange would continue to support Tether and its related trading pairs in Europe. The exchange made it clear that they have no intentions to delist Tether or modify their USDT trading pairings at this time.
Stringent Compliance Norms
This announcement contradicts earlier reports that said Kraken was considering discontinuing support for Tether’s USDT stablecoin in the EU as a result of changing regulatory frameworks, namely the planned Markets in Crypto-Assets (MiCA) law.
In order to best serve its European customers, Kraken has decided to strategically prioritize EUR liquidity, which may include withdrawing support for USDT in Europe. Other exchanges, including OKX, have taken such measures in reaction to legislative changes impacting USDT operation in the EU, thus this move is in line with industry trends.
The purchase of TradeStation Crypto by Kraken, the digital assets division of TradeStation Group under Monex Group, placed the company on a path of regulatory growth. By taking this strategic step, Kraken is demonstrating its will to strengthen its position in the US market and comply with relevant regulations.
A representative from Kraken was optimistic about the acquisition’s ability to spur further growth and open doors to new product possibilities in the American market.
Highlighted Crypto News Today:
Spot Bitcoin ETFs Thrives Back as May Inflows Offset April Outflows
