A Kraken executive denied that the exchange plans to delist Tether’s USDT stablecoin in Europe on May 18.

Mark Greenberg, Kraken's Global Head of Asset Growth & Management Business, stated that the company is considering “all options to offer USDT under the upcoming regime.”

Greenberg emphasized that Kraken will comply with all legal requirements, even those it opposes, and noted that the rules are not yet finalized.

Kraken's commitment to maintaining its offerings includes more than just USDT. Greenberg said:

“We are doing everything we can to continue offering all relevant stablecoins to our European customers.”

He did not specify which regulations are in question, but the relevant regulatory framework is the EU’s Markets in Crypto-Assets (MiCA), set to take effect in July. MiCA mandates that fiat-backed stablecoin issuers register as electronic money institutions (EMIs) and meet other criteria.

Greenberg also mentioned that Kraken is working to relist certain coins previously delisted in Germany, without specifying which ones.

Earlier statements

On May 17, Bloomberg reported that Kraken might delist USDT in the EU, based on comments from Kraken Global Head of Regulatory Strategy Marcus Hughes.

Hughes suggested that the exchange might encounter situations where listing tokens like USDT in the EU is “not tenable.” He also warned that MiCA could broadly reduce the number and types of stablecoins available in the region.

Following Bloomberg’s report, The Block quoted a Kraken spokesperson denying any plans to delist or alter USDT trading pairs. The spokesperson acknowledged that the firm is “constantly evaluating [its] global strategy and operations” for compliance.

Tether, the issuer of USDT, also told Bloomberg that it expects EU exchanges to keep their USDT trading pairs despite regulatory changes.

Another exchange, OKX, has delisted USDT in Europe but plans to continue listing USDC.