Kraken, a U.S.-based cryptocurrency exchange, affirms it will continue to offer USDT in European markets until stablecoin regulations are finalized. Mark Greenberg, Global Head of Kraken’s Asset Growth and Management Business, clarified they will explore various options to ensure USDT remains available under the upcoming regulatory framework.

Kraken Commits to Keeping Tether’s USDT Accessible in European Markets

As cryptocurrency exchanges navigate forthcoming regulations such as the Markets in Crypto Assets (MiCA), Kraken, headquartered in San Francisco, has confirmed its intention to maintain USDT, the leading stablecoin, accessible for its European clientele.

Mark Greenberg, overseeing Kraken’s Asset Growth and Management division globally, emphasized the exchange's ongoing listing of USDT in Europe, stating there are currently no plans for delisting the stablecoin.

Recognizing USDT's significance to European users, Greenberg highlighted Kraken's efforts to explore avenues for USDT's continued availability under impending regulations. MiCA's stipulations, particularly the requirement for Tether to maintain daily transaction volumes below 200 million euros ($217.6 million), present challenges for compliance.

However, Greenberg stressed Kraken's commitment to adhering to all finalized regulations, noting that current rules are subject to change. The exchange remains dedicated to offering relevant stablecoins to its European clientele, pending regulatory clarity.

Greenberg's remarks follow statements from Marcus Hughes, Kraken’s global head of regulatory strategy, indicating the exchange's proactive assessment of Tether's status under MiCA regulations. Hughes affirmed Kraken's preparedness for various scenarios, including scenarios where listing specific tokens like USDT may not be feasible.

While some exchanges, like Okx, are delisting USDT-based pairs in anticipation of MiCA, Kraken's decision to maintain USDT availability underscores its stance on prioritizing customer access to stablecoin options in the European market.

What are your thoughts on Kraken's decision to uphold Tether’s stablecoin availability for European users? Share your opinions in the comments below.