European clients on OKX will no longer be able to trade USDT stablecoins from Tether as the cryptocurrency exchange has announced that it will be delisting these trading pairs.
The move comes in light of the upcoming regulation on cryptocurrencies in the European Union (EU), known as the Markets in Crypto Assets (MiCA) bill, which will come into full effect on December 30, 2024.
According to one European trader who received an email about the change, OKX representatives confirmed that USDT became unavailable to EEA users as of March 14.
MiCA requires stablecoin operators to obtain a license from an EU member state and comply with rules to ensure the stability of their tokens. This includes conducting stress tests and maintaining 3% of reserves with their own capital.
