Coinbase Global Inc. is set to delist unauthorized stablecoins, according to a Bloomberg report dated October 4. This strategic move is anticipated to impact tokens like Tether Holdings Ltd’s USDT on the major cryptocurrency exchange. Such a decision aligns with the evolving regulatory landscape, as the European Union gears up to implement its comprehensive Crypto Asset Market Act (MiCA) by year-end. MiCA regulations for stablecoin issuers have been active since June 30, necessitating them to secure electronic money authorization within at least one EU member state. Additionally, guidelines impacting cryptocurrency exchanges and related businesses in the EU are slated to commence on December 31. This regulatory framework aims to enhance the accountability and transparency of crypto-market participants, fortifying the EU’s position as a pivotal hub for digital assets.
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