Kraken USDT Support Now Continues Amid Legal Challenges In Europe
- Kraken denies plans to delist Tether (USDT) in Europe, maintaining support despite regulatory uncertainties.
- The exchange is prepared to comply with the EU’s MiCA regulations, but Kraken USDT support will continue.
- Kraken acquires TradeStation Crypto and plans a European headquarters in France or Ireland.
Kraken, a leading cryptocurrency exchange, has officially denied any plans to delist Tether (USDT) in Europe despite increasing regulatory uncertainties.
Kraken USDT Support Guaranteed in Europe
The announcement of Kraken USDT support comes as the cryptocurrency world faces growing concerns about the reliability and compliance of stablecoins like Tether.
Let's be clear: @krakenfx continues to list USDT in Europe and we have no plans to delist at this time.
We know our European clients value access to USDT and we continue to look at all options to offer USDT under the upcoming regime.
We will of course follow all legal…
— Mark Greenberg (@marklg) May 18, 2024
The European Union’s approval of the Markets in Crypto-Assets (MiCA) framework has prompted exchanges to reassess their strategies to ensure compliance.
Kraken’s Global Head of Regulatory Strategy, Marcus Hughes, emphasized that the exchange is prepared to meet emerging regulatory needs but clarified that there are currently no plans to delist Tether or modify its USDT trading pairs in Europe.
Hughes reiterated Kraken’s commitment to supporting Tether and its related trading pairs, stating that the exchange has no intention of withdrawing Kraken USDT support at this time.
See Also: Kraken Considers Ending USDT Support In The EU
This reassurance contrasts with earlier reports suggesting Kraken might cease support for Tether due to regulatory pressures.
Kraken Expands with New Acquisitions and Headquarters
The exchange’s stance is significant as it impacts investor sentiment and market dynamics within the crypto ecosystem.
Regulatory scrutiny of stablecoins like USDT has intensified, and Kraken’s position provides some stability amidst the uncertainty.
Kraken is also expanding its regulatory footprint by acquiring TradeStation Crypto and finalizing plans for its European headquarters, which are likely to be located in either France or Ireland. This move aims to bolster its regulatory compliance and better serve its European clients.
Kraken’s decision to continue supporting Tether in Europe reflects its strategic approach to navigating regulatory landscapes while maintaining liquidity and service quality for its European users.
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