coinspress.com
OKX, the world's fourth-largest cryptocurrency exchange by trading volume, is discontinuing tether (USDT) trading pairs in the European Economic Area (EEA) as the European Union (EU) prepares to implement new cryptocurrency regulations.
The move comes ahead of the scheduled enforcement of MiCA, a comprehensive regulatory framework set to take effect on December 30, 2024, which will impose restrictions on certain stablecoins within the region.
According to reports, a European trader received an email notifying them of OKX’s decision to cease support for USDT trading pairs.
Although OKX’s website indicated that USDT pairs were still available in the EEA as of March 15, customer support confirmed that tether became inaccessible to EEA traders starting March 14.
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While the email from OKX did not explicitly attribute the delisting to MiCA, it mentioned, “Please note that not all tokens are available in all markets due to regulatory requirements.”