Kraken delists USDT and other stablecoins Under EU MiCA
Kraken will remove Tether’s USDT and four other stablecoins from its European market to comply with the upcoming Markets in Crypto-Assets (MiCA) regulations.
The delisting will happen in stages, with complete removal set for March 31, 2025. Along with USDT, the affected stablecoins include PayPal USD, Euro Tether, TrueUSD, and TerraClassicUSD. The process will begin on February 13, when margin pairs for these assets will be set to “reduce-only” mode. Allowing European users to close existing positions but not open new ones.
By February 27, trading will be limited to “sell-only” mode, preventing users from generating new deposit addresses for these stablecoins. Spot trading for these assets will be halted on March 24, and any remaining holdings will be converted into a different stablecoin by March 31.
ESMA has asked crypto exchanges to withdraw non-compliant stablecoins from their platforms step by step in order not to cause market disturbance. Other large exchanges, including Crypto.com and Coinbase, have begun delisting USDT and other similar assets
