In order to keep providing USDT to clients in the EU, Kraken is looking at all of its possibilities. Mark Greenberg, the head of asset growth and management at Kraken globally, verified this in an X post.
Kraken is reportedly “actively considering” the possibility of ending stablecoin support in the European Union, according to a Bloomberg article from Friday. An official said that the impending adoption of the Markets in Crypto Assets (MiCA) laws seems to be the apparent attitude of the exchange.
Mark Greenberg, the head of asset growth and management globally at Kraken, has now given an update on the situation. On Saturday, he made a statement about it.
Greenberg said on X that delisting Tether is not in the exchange’s intentions. Additionally, he highlighted the significance of USDT, being the biggest stablecoin globally, to Kraken’s European company and consumers.
According to Greenberg, Kraken has no intentions to delist USDT in Europe and is still listing it. Kraken is looking at all possibilities to ensure USDT continues to be supported, according to the update. Greenberg further by saying that the exchange is trying to meet the requirements of the MiCA rules.
“We are attentive to all possibilities for providing USDT to our European customers under the new system, as we are aware of how important this service is to them. Naturally, we will adhere to all statutory mandates, regardless of whether we agree with them or not. However, the regulations are still being worked out, and we are making every effort to ensure that our European consumers have access to all applicable stablecoins,” Greenberg stated.
As mentioned in our prior report, the stablecoin portion of the EU’s MiCA regulations is scheduled to go into effect in July 2024, followed by the crypto exchange portion on December 30, 2024.
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