Coinbase has announced that it will delist Tether's USDT stablecoin, along with several others, due to upcoming regulatory changes in Europe. The decision will take effect on December 13 and is part of Coinbase's strategy to comply with European regulations.
Coinbase has made the decision to delist Tether's USDT stablecoin, among others, in response to regulatory changes in Europe. This move is aimed at ensuring compliance with European regulations.
The exchange has urged users to convert their holdings of USDT into compliant alternatives such as USD Coin (USDC) and the euro-pegged EURC stablecoin.
Tether's compliance status under the upcoming Markets in Crypto-Assets Regulation (MiCA) is uncertain. However, the company is actively working on a technology-based solution tailored for the European market.
Tether has expressed its commitment to supporting new projects that offer MiCA-compliant stablecoins, such as the EURq and USDq stablecoins developed by Quantoz Payments.
The demand for compliant stablecoins is expected to increase as the crypto market matures. Investors and institutions are seeking assets that adhere to regulatory standards.
Tools like Blockpit have emerged to help users manage their crypto taxes. These tools provide solutions for tracking, calculating, optimizing, and reporting cryptocurrency taxes.
These tools are valuable for both novice and experienced investors as the importance of understanding tax implications and maintaining compliance in the crypto space continues to grow.