Coinbase will restrict European users from trading certain stablecoins like Tether due to MiCA regulatory requirements.
Starting Dec. 13, Coinbase Europe will delist a basket of stablecoin tokens, including crypto’s largest fiat-pegged currency, Tether (USDT), to comply with broader rules enshrined in the Markets in Crypto-Assets framework.
Coinbase will also prohibit trading for stablecoins like PAX, PYUSD, GUSD, GYEN, and Maker’s DAI, which were categorized as MiCA noncompliant tokens.
Notably, the crypto exchange will continue trading support for Circle stablecoins (USDC) and EURC. Circle previously secured a European stablecoin license, the first of its kind under new MiCA laws. Coinbase added that Tether and other delisted stable tokens may be relisted later, provided they achieve MiCA compliance.
At press time, Tether had not publicly addressed the delisting notice. Request for commentary sent by crypto.news was also unanswered as of reporting.