- Bitstamp has expressed its readiness for MiCA implementation.
- The exchange will implement several changes in advance of the regime.
- This will include delisting a stablecoin issued by Tether.
On Wednesday, Bitstamp announced several changes to its digital asset platform in preparation for the implementation of the Markets in Crypto-Assets Regulation (MiCA) regime on June 30.
Founded in 2011, Bitstamp is among the oldest-running exchanges in the industry. Over 50 licenses are at the heart of various global operations, including in markets like Spain, Italy, the Netherlands, France, the USA, and the UK.
Bitstamp’s Changes in Advance of MiCA
In a press release dated June 26, Bitstamp said it would delist Tether’s EUR-denominated stablecoin EURT in advance of the June 30 deadline.
Sponsored
The exchange’s customers will also have limited access to certain products, including Electronic Money Tokens (EMTs) which are not Euro-denominated and are already available on Bitstamp but not within MiCA regulation.
“Bitstamp will not list any new EMTs that don’t meet MiCA requirements, nor will it engage in any marketing of them,” the statement read.
James Sullivan, UK Managing Director at Bitstamp, noted the move was part of the exchange’s gesture to welcome MiCA and advance its advocacy for proportionate response to regulation which protects consumers “while allowing for the ongoing maturation of cryptocurrencies as an asset class.”
“Our commitment to compliance and security means we are in a strong position to adapt to these welcome changes. We are communicating directly with the small proportion of our customers whose asset mixes are affected,” Sullivan stated.
The exchange did not mention the exact date for delisting EURT.
Sponsored
Read about the UK’s staking and stablecoin rules:
How UK’s Staking and Stablecoin Rules Could Shape Its Future
Stay updated on Standard Chartered’s big bet on crypto:
StanChart Bets Big on Crypto with BTC and Ether Trading Desk
