Key Takeaways:
- Kraken has “no plans” to delist Tether (USDT) in Europe, despite ongoing reviews for MiCA compliance.
- Kraken will comply with all legal requirements but awaits finalized MiCA rules to make definitive decisions on token listings.
- Kraken continues expanding in Europe, securing new licenses in Spain, the Netherlands, and Ireland.
Concerns were raised after a Bloomberg article reported Kraken was “actively reviewing” which tokens it could continue to list under the European Union’s upcoming MiCA framework.
Cryptocurrency exchange Kraken has “no plans” to delist Tether (USDT) in Europe at the moment despite a recent report claiming the firm was “actively reviewing” the decision to remain legally compliant.
Let's be clear: @krakenfx continues to list USDT in Europe and we have no plans to delist at this time.
— Mark Greenberg (@marklg) May 18, 2024
We know our European clients value access to USDT and we continue to look at all options to offer USDT under the upcoming regime.
We will of course follow all legal…
“[Kraken] continues to list USDT in Europe and we have no plans to delist at this time,” stated Mark Greenberg, Kraken’s global head of asset growth and management in a May 18 X post.
The firm will continue to follow all legal requirements — even those that it disagrees with — Greenberg iterated. “But the rules are not finalized yet and we continue to do everything we can to continue to offer all relevant stablecoins to our European customers.”
A May 17 article reported Kraken was “actively reviewing” plans to comply with the European Union’s upcoming Markets in Crypto Assets Regulation (MiCA) framework.
Cryptocurrency exchange Kraken reassured users it has no plans to delist USDT in Europe and will continue to follow all legal requirements.https://t.co/Fer8NNTokE
— Cryptonews.com (@cryptonews) May 20, 2024
“We’re absolutely planning for all eventualities, including situations where it’s just not tenable to list specific tokens such as USDT,” said Marcus Hughes, Kraken’s global head of regulatory strategy at the time.
“It’s something that we’re actively reviewing, and as the position becomes clearer, we can take firm decisions on that.”
The rules applicable to stablecoins under MiCA will come into force on June 30, while cryptocurrency service provider rules will take effect six months later on Dec. 30.
Kraken denies plans to delist Tether (USDT) in Europe, maintaining support despite regulatory uncertainties.
— BitcoinWorld Media (@ItsBitcoinWorld) May 19, 2024
The exchange is prepared to comply with the EU’s MiCA regulations, but Kraken USDT support will continue. #ContinuesAmid #Europe #KRAKENhttps://t.co/25Wqgkzjl8
One of Kraken’s biggest competitors, OKX, made the move to delist USDT in Europe in March.
Binance announced plans to make a similar decision last September — citing a need to comply with MiCA — but the firm hasn’t followed through with those plans yet.
Kraken recently ended support for the Monero (XMR) privacy token for its Belgium and Ireland customers in April.
KRAKEN DEALS VICIOUS BLOW TO MONERO’S $XMR WITH MAJOR DE-LISTINGS
— BSCN (@BSCNews) April 11, 2024
– According to an official notice published earlier today, leading CEX @Krakenfx, is set to de-list @Monero’s $XMR token in key EU jurisdictions, Ireland and Belgium.
– The de-listing will take effect on June… https://t.co/6FELcEazqo pic.twitter.com/0PvDtPugmG
Meanwhile, the crypto exchange has continued to expand its services in Europe.
It recently secured a virtual asset service provider registration in Spain and the Netherlands, as well as an electronic money institution license in Ireland.
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