As a researcher with a background in digital assets and experience following the regulatory landscape of cryptocurrencies, I find Kraken’s decision to retain USDT listing in Europe an intriguing move. The exchange’s commitment to compliance and its strategic approach to navigating evolving regulations in Europe is noteworthy.
As a cryptocurrency market analyst, I can confirm that Kraken has announced no intentions to remove Tether (USDT) from its European exchange platform contrary to prior rumors suggesting possible delisting due to regulatory compliance concerns.
Let it be understood: KrakenFX persists in making USDT available for trading in Europe, with no current intention to withdraw this listing. Our European users appreciate having access to USDT and we’re exploring ways to continue providing it under the forthcoming regulatory framework. We will adhere to all legal requirements as they unfold.
— Mark Greenberg (@marklg) May 18, 2024
As a crypto investor following Kraken’s updates, I can confirm that Mark Greenberg, the global head of asset growth and management at Kraken, recently announced in a May 18 X post that Kraken will carry on listing USDT (Tether) and is dedicated to adhering to all applicable legal regulations, regardless of any disagreements.
As a crypto investor, I’ve been keeping a close eye on developments regarding Kraken and the EU’s MiCA regulations. According to a May 17th report by Bloomberg, Kraken is currently assessing how these new rules will impact their business compliance strategy. The global head of regulatory strategy at Kraken, Marcus Hughes, has even suggested that they might need to delist certain tokens, such as USDT, in response to these potential regulations.
Marcus Hughes stated that they are thoroughly preparing for every possible scenario, even one in which it becomes impractical to enumerate particular tokens like USDT.
Starting from June 30, the new MiCA regulations for stablecoins will be enforced. Meanwhile, broader cryptocurrency service provider regulations are expected to begin on December 30. In response to these upcoming rules, OKX stopped supporting USDT in Europe back in March, while Binance announced similar intentions last September but has yet to carry them out.
In the month of April, Kraken discontinued Monero (XMR) support for their clients based in Belgium and Ireland. However, Kraken’s European expansion is ongoing; they have recently obtained necessary registrations and permissions to operate in Spain, the Netherlands, and Ireland.
As a researcher studying Kraken’s cryptocurrency exchange operations, I would interpret Kraken’s choice to continue listing Tether (USDT) as part of a deliberate strategy to ensure regulatory compliance in the face of ever-changing cryptocurrency regulations in Europe.
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2024-05-20 07:00