2024-03-19
OKX's Exchange will be removing support for Tether (USDT) trading pairs in the European Economic Area (EEA).
This decisionreflects the exchange's response to regulatory changes and compliance requirements in the region.
The timing of OKX's decision coincides with the EU's preparation for implementing a comprehensive regulatory framework for cryptocurrencies, indicating a proactive response to anticipated regulatory changes in the region.
An email obtained by an OKX European trader suggests that OKX's delisting of USDT trading pairs is scheduled ahead of the full EU's planned implementation of CryptoAsset Markets (MiCA) regulation, indicating the exchange's anticipation of regulatory changes and its proactive measures to comply with upcoming restrictions on certain stablecoins in the EEA.
This regulation, which will come into full force on December 30, 2024.
The confirmation from OKX's customer support aligns with The Block's report, indicating that Tether will indeed not be available to traders in the EEA starting from March 14.
While the email from OKX did not explicitly mention the MiCA regulation, it did reference regulatory requirements as a factor influencing token availability in different markets. This suggests that regulatory compliance likely plays a role in the decision to delist Tether trading pairs in the EEA.
