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Coinbase will remove non-compliant stablecoins from the EU in December

BlockBeats reported that on October 4, Bloomberg reported that Coinbase Global Inc. will remove all unauthorized stablecoins from its cryptocurrency exchange by the end of the year, which will pose a potential blow to tokens such as USDT of Tether Holdings Ltd.

The European Union is expected to fully implement new crypto industry regulatory rules, the Crypto Asset Market Act (MiCA), by the end of this year. Under MiCA, regulation of stablecoin issuers came into effect on June 30, requiring them to hold electronic money authorization in at least one member state. Guidance for cryptocurrency exchanges and other companies operating in the EU will take effect from December 31.

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