Coinbase To Stop Supporting Non-Compliant Stablecoins in EU by the End of 2024, Including Possibly USDT: Report

October 5, 2024 The Daily Hodl

coinbase

Coinbase reportedly plans to cut support for certain stablecoins in the European Union (EU) by the end of the year. A spokesperson for the crypto exchange tells Bloomberg the exchange will delist stablecoins in Europe that don’t comply with the EU’s Markets in Crypto-Assets Regulation (MiCA). “Given our commitment to compliance, we intend to restrict […]

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Coinbase to delist noncompliant stablecoins under EU MiCA rules

October 4, 2024 Coin Telegraph

Coin Telegraph

Coinbase will delist noncompliant stablecoins from its European platform by the end of December to comply with the EU’s MiCA regulations.

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.

On Oct. 4, Bloomberg reported that Coinbase will delist stablecoins that don’t comply with EU regulations by the end of 2024. This move aligns with the full implementation of MiCA, which is set to tighten control over the digital asset sector.

In a statement released Oct. 4, a Coinbase spokesperson confirmed the company’s commitment to regulatory compliance:

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MiCA threatens crypto firm exodus to Middle East: Regulatory expert

September 27, 2024 Coin Telegraph

Coin Telegraph

The upcoming regulatory framework could threaten a mass crypto exodus to the Middle East due to more favorable regulations.

Europe’s upcoming cryptocurrency regulatory framework could reduce the number of Web3 firms in the region and introduce new centralization-related concerns.

The Markets in Crypto-Assets (MiCA) bill is the world’s first comprehensive regulatory crypto framework, widely seen as a net positive for the industry.

While MiCA legitimizes the crypto ecosystem, it also threatens to introduce consolidation among crypto firms, according to Anastasija Plotnikova, CEO and co-founder of Fideum, a regulatory and blockchain infrastructure firm focused on institutions.

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Sygnum Secures Liechtenstein License to Expand Crypto Services in EU

September 24, 2024 Bitcoin.com

Assets

Sygnum, a Swiss digital asset banking group, has registered its local subsidiary with the Liechtenstein financial regulator. This move allows the company to offer regulated services in the EU and European Economic Area under the incoming MiCA framework. With plans for further growth in Asia, including Hong Kong and Singapore, Sygnum continues to strengthen its […]

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Blockchain Industry Players Launch MiCA Crypto Alliance in the EU

September 19, 2024 Bitcoin.com

Aptos

The DLT Science Foundation (DSF) has announced its support for the launch of the MiCA Crypto Alliance, with Hedera, Ripple, and Aptos Foundation as founding members. This industry association aims to streamline and enhance compliance with the European Union’s Markets in Crypto-Assets (MiCA) regulation, fostering a sustainable and compliant crypto ecosystem. The MiCA regulation, set […]

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MiCA regulation poses ‘systemic risk’ to banking system, says Tether CEO

August 9, 2024 Coin Telegraph

bitcoin regulation

According to Tether CEO Paolo Ardoino, recently approved MiCA regulations threaten both banks and stablecoin issuers.

Tether CEO Paolo Ardoino has raised concerns that the European Union’s Markets in Crypto-Assets (MiCA) regulation poses a systemic risk not only to stablecoins but also to the broader banking system.

“The problem that I have with MiCA is that instead of making the system more secure, it’s actually creating an incredibly big systemic risk,” Ardoino told Cointelegraph in an exclusive interview.

The MiCA regulation, which took effect on June 30, imposes stringent limitations on stablecoin operations across the European Economic Area. Notably, it mandates that at least 60% of reserves backing stablecoins must be held in EU bank accounts.

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EU MiCA implementation is a “pivotal moment” for crypto regulations: compliance expert

August 2, 2024 Coin Telegraph

bitcoin regulation

The European Central Bank recently joined forces with Crystal Intelligence, as its blockchain analytics partner for the upcoming MiCA implementation.

The European Union is preparing to roll out the Markets in Crypto Assets (MiCA) bill, as the first comprehensive regulatory framework for the crypto industry.

This would make the European Union the first jurisdiction with a holistic regulatory framework on digital assets.

While it is a pivotal moment for crypto regulation, the actual implementation could present significant challenges, according to Hedi Navazan, the head of compliance and regulatory affairs at Crystal Intelligence.

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Veteran Blockchain Developer: Overregulation Creates Hurdles for Crypto Companies, Diminishing Overall User Experience

July 21, 2024 Bitcoin.com

2024 US Election

While regulations are generally meant to protect consumers, in practice, they create hoops for crypto companies to jump through, thus diminishing the overall user experience, said Ivo Georgiev, co-founder and CEO of Ambire Wallet. Georgiev argues that regulations like the Eurozone’s Markets in Crypto-Assets (MiCA) actually “enable more sketchy companies and scams.” Overregulation Beneficial to […]

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Italy Prepares to Issue Guidelines on Implementing EU Crypto Regulation

July 9, 2024 Bitcoin.com

Bank of Italy

Italy’s central bank will soon release guidelines on implementing the European Union’s Markets in Crypto Assets Regulation (MiCA) Regulation to ensure the payment system’s regular functioning, Bank of Italy Governor Fabio Panetta revealed on Tuesday. In his speech to the Italian Banking Association, Panetta highlighted that MiCA considers electronic money tokens (EMTs) and asset-reference tokens […]

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EU–US Financial Forum Highlights Cooperation on Crypto Regulation

July 4, 2024 Bitcoin.com

bitcoin.com

The EU–U.S. Joint Financial Regulatory Forum took place last week, with participants exchanging views on topics of mutual interest as part of their regular financial regulatory dialogue. The dialogue was hosted by the European Commission and the U.S. Department of the Treasury. During the forum, participants discussed digital finance and crypto assets, focusing on regulatory […]

MiCA

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