Cryptocurrency exchange Kraken has stated that it currently has "no plans" to delist Tether (USDT) in Europe, despite a recent report claiming the firm was "actively reviewing" the decision to remain legally compliant.

In a May 18 X post, Mark Greenberg, Kraken's global head of asset growth and management, clarified that "[Kraken] continues to list USDT in Europe and we have no plans to delist at this time." The firm remains committed to following all legal requirements, even those it may disagree with. Greenberg emphasized that the rules are not finalized yet, and Kraken will continue to do everything possible to offer relevant stablecoins to its European customers.

A May 17 article from Bloomberg had previously reported that Kraken was "actively reviewing" plans to comply with the European Union's upcoming Markets in Crypto Assets Regulation (MiCA) framework. Marcus Hughes, Kraken's global head of regulatory strategy, stated at the time, "We're absolutely planning for all eventualities, including situations where it's just not tenable to list specific tokens such as USDT." He added, "It's something that we're actively reviewing, and as the position becomes clearer, we can take firm decisions on that."

The rules applicable to stablecoins under MiCA will come into force on June 30, while cryptocurrency service provider rules will take effect six months later on Dec. 30. One of Kraken's biggest competitors, OKX, made the move to delist USDT in Europe in March. Binance also announced plans to make a similar decision last September, citing a need to comply with MiCA, but the firm hasn't followed through with those plans yet.

In April, Kraken ended support for the Monero privacy token (XMR) for its Belgium and Ireland customers. However, the crypto exchange has continued to expand its services in Europe, securing a virtual asset service provider registration in Spain and the Netherlands, as well as an electronic money institution license in Ireland.