Together with USDT, 4 coins will deliver the USDT and four stabilcoin by the crypto currency exchange Kraken within the scope of the European Union’s Crypto Asset Markets regulation (mica). This decision proceeds in the same direction as similar measures by large stock exchanges such as Coinbase and Crypto.com.
USDT and other stabilcoins will be delists in March 2025
As of March 31, 2025, the popular stock market announced that it will completely terminate USDT support in the market in Europe. In addition, Paypal USD (PYUSD), Tether Eurt (Eurt), Trueusd (TUSD) and Terraclassicusd (Ust) will be gradually mad.
The stock market stated that he took this step in order to provide full compliance with Mica regulations. This process is critical to continue to provide services to customers in Europe in the long run.
The Delist process will gradually progress
In accordance with the recommendations of the Crane Stock Exchange, the Authority of the European Securities and Markets (ESMA) A gradual delistannounced that it will apply. This process was planned to prevent sudden fluctuations in the market.
- 13 February 2025: Leveled transaction parities only to “closure” modewill be taken. Users will not open a new positioncan only close the existing transactions.
- 27 February 2025: Purchase procedures for stabilcoins will be completely stoppedAnd only sales can be made. New deposit transactions will not be accepted.
- 24 March 2025: Spot transactions will be completely stopped.Open orders will be closed and some assets will be converted into other appropriate crypto currencies.
- 31 March 2025: Delist stabilcoins will be automatically converted to an appropriate stabilcoin.Users who deposit these assets in their crake wallets will only be able to shoot.
These changes, Austria, Czech, Cyprus, Malta, Portugal, Spain and Swedenlike 30 users in the country of European Economic Area (EEA)It will affect.
What awaits USDT owners after March 31?
Within the scope of Mica arrangements, the balances of users who still have stabilcoins that are still out of the list after the dates of Kraken will automatically be converted to another Mica -compatible stabilcoin. The stock exchange recommends that users complete their transactions in advance so that they are not affected by this process.
These changes covering 30 countries in the European Economic Area will directly affect investors in many regions such as Austria, Czechia, Cyprus, Malta, Portugal, Spain and Sweden. Users will have to turn their assets into appropriate stabilcoins until Kraken’s dates.
Other stock exchanges are also taking similar steps
Kraken is not the only stock market that delists stabilcoins because of their mica arrangements. Previously, Crypto.com announced that it would completely remove USDT and nine stabilcoin as of January 31, 2025. Similarly, Coinbase also had stablecoins that did not adapt to Mica in December 2024.
These developments are seen as part of the European Union’s efforts to strictly control the stabilcoin market. The European Securities and Markets Authority (ESMA) advised them to apply a gradual transition process to the stock market by warning that sudden delist decisions could disrupt market stability.
