Bitstamp Implements Pre-MiCA Overhaul, Delists EURT Stablecoin

Bitstamp, recognized as the world's oldest operating cryptocurrency exchange, has announced significant updates to its platform ahead of the Markets in Crypto-Assets Regulation (MiCA), set to be enforced across the European Union on June 30. The exchange has confirmed that the EUR-denominated stablecoin EURT will be delisted before the regulatory deadline.Maintaining Non-Euro EMTsElectronic Money Tokens (EMTs) currently available on Bitstamp, which do not fall under Euro denomination and are not yet within MiCA's regulatory scope, will remain listed. However, these tokens will have restricted availability for European customers on specific products.Bitstamp has declared its intention to refrain from listing any new EMTs that do not comply with MiCA requirements, as well as abstaining from marketing such tokens. The exchange boasts over 50 licenses globally, positioning itself as one of the most heavily regulated exchanges worldwide.Aligning with MiCA StandardsAcknowledging its proactive stance on regulatory compliance, Bitstamp affirms its alignment with many of MiCA's existing standards. The exchange continues to vigilantly monitor further developments in the MiCA framework to ensure ongoing adherence to regulatory mandates. This article was written by Tareq Sikder at www.financemagnates.com.

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Jun 26, 2024 - 15:30
Bitstamp Implements Pre-MiCA Overhaul, Delists EURT Stablecoin

Bitstamp, recognized as the world's oldest operating cryptocurrency exchange, has announced significant updates to its platform ahead of the Markets in Crypto-Assets Regulation (MiCA), set to be enforced across the European Union on June 30.

The exchange has confirmed that the EUR-denominated stablecoin EURT will be delisted before the regulatory deadline.

Maintaining Non-Euro EMTs

Electronic Money Tokens (EMTs) currently available on Bitstamp, which do not fall under Euro denomination and are not yet within MiCA's regulatory scope, will remain listed. However, these tokens will have restricted availability for European customers on specific products.

Bitstamp has declared its intention to refrain from listing any new EMTs that do not comply with MiCA requirements, as well as abstaining from marketing such tokens. The exchange boasts over 50 licenses globally, positioning itself as one of the most heavily regulated exchanges worldwide.

Aligning with MiCA Standards

Acknowledging its proactive stance on regulatory compliance, Bitstamp affirms its alignment with many of MiCA's existing standards. The exchange continues to vigilantly monitor further developments in the MiCA framework to ensure ongoing adherence to regulatory mandates. This article was written by Tareq Sikder at www.financemagnates.com.