Crypto exchange OKX has terminated all trading pairs with Tether (USDT) for users in the European Economic Area (EEA), citing "REGULATORY REQUIREMENTS" as the primary reason. This move comes as the European Union is set to introduce a comprehensive regulatory framework for cryptocurrencies, known as the Markets in Crypto-Assets (MiCA) regulation. From now on, OKX will only support trading pairs with the Euro (EUR) and USD Coin (USDC) for spot trading within the region. The decision to phase out USDT trading pairs was made effective from March 14, indicating OKX's proactive approach to compliance with upcoming EU regulations.
Sources
Elizabeth Napolitano
SCOOP: An OKX spokesperson has confirmed to me the delisting of certain USDT pairs in the European Economic Area. Traders residing in other regions remain unaffected. Stay tuned for more info... https://t.co/bNQydYUMBk
CoinDesk Crypto exchange OKX discontinued offering USDT trading pairs for users in the E.U., possibly foreshadowing regulatory headwinds in the region for the largest stablecoin. @sndr_krisztian reports https://t.co/SrFznIw34C
crypto.news OKX has announced its decision to discontinue Tether’s USDT trading pairs within the EEA, aligning with the EU’s forthcoming MiCA regulation https://t.co/JnpIZsu1Vl
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