Coinbase, a leading US cryptocurrency exchange, is set to delist all non-compliant stablecoins from its European platform by the end of 2024. The move comes as the European Union’s Markets in Crypto-Assets (MiCA) regulation,

Coinbase reportedly plans to cut support for certain stablecoins in the European Union (EU) by the end of the year.

Crypto exchange Coinbase is to delist stablecoins that fail to meet the EU’s Markets in Crypto-Assets (MiCA) regulation by December 30.

The European Union’s Markets in Crypto-Assets Regulation (MiCA) is enforcing stricter oversight of crypto-related firms, and cryptocurrency exchange Coinbase is the latest to update its offerings in response.

Tether, which is the largest issuer of stablecoins, has not managed to snag the necessary e-money license yet in the European Union.

A statement from publicly traded Coinbase announced that the leading exchange was delisting all unauthorized stablecoins from its EU exchange by the end of the year. Tether Holding’s USDT would be among the most affected stablecoins as MiCA preps to implement the new regulations fully.

Coinbase Global Inc. will delist all unauthorized stablecoins from its crypto exchange in the European Economic Area by year-end, a potential blow for tokens like Tether Holdings Ltd.’s USDT.

Coinbase announced that it would delist unauthorized stablecoins by December this year, in what could be a major blow to top market players.

Coinbase announced that it would delist stablecoins that are not compliant with MiCA laws, per Bloomberg report. The European Union intends to enact stricter laws to tighten its grip around the digital asset industry.