Bitstamp, recognized as the world’s oldest operating
cryptocurrency exchange, has announced significant updates to its platform
ahead of the Markets in Crypto-Assets Regulation (MiCA), set to be enforced
across the European Union on June 30.
The exchange has confirmed that the
EUR-denominated stablecoin EURT will be delisted before the regulatory
deadline.
Maintaining Non-Euro EMTs
Electronic Money Tokens (EMTs) currently available on
Bitstamp, which do not fall under Euro denomination and are not yet within
MiCA’s regulatory scope, will remain listed. However, these tokens will have
restricted availability for European customers on specific products.
Bitstamp has declared its intention to refrain from listing
any new EMTs that do not comply with MiCA requirements, as well as abstaining
from marketing such tokens. The exchange boasts over 50 licenses globally,
positioning itself as one of the most heavily regulated exchanges worldwide.
Bitstamp delists Tether’s euro stablecoin as MiCA laws kick inCrypto exchange Bitstamp will delist Tether’s EURT and other stablecoins that do not comply with the European Union’s new laws for crypto assets before the June 30 deadline….Wen 1USD $AZERO…
— Brezel (@Brezel1900) June 26, 2024
Aligning with MiCA Standards
Acknowledging its proactive stance on regulatory compliance,
Bitstamp affirms its alignment with many of MiCA’s existing standards. The
exchange continues to vigilantly monitor further developments in the MiCA
framework to ensure ongoing adherence to regulatory mandates.
“We welcome MiCA’s implementation to make crypto regulation
uniform across the European Union. As the world’s longest-running
cryptocurrency exchange, we have consistently advocated for proportionate
response to regulation which protects consumers while allowing for the ongoing
maturation of cryptocurrencies as an asset class.”
“Our commitment to compliance and security means we are in a
strong position to adapt to these welcome changes. We are communicating
directly with the small proportion of our customers whose asset mixes are
affected,” said James Sullivan, UK Managing Director at Bitstamp.
This article was written by Tareq Sikder at www.financemagnates.com.
