Coinbase will remove non-compliant stablecoins such as USDT from its European platform by the end of 2024. This decision aligns with the European Union's Markets in Crypto-Assets (MiCA) regulation which mandates that stablecoins must have an e-money license to operate within the EU.
In response, Coinbase aims to facilitate a smooth transition by offering conversion options for customers to switch to compliant stablecoins, such as USDC, ensuring continuity for users by providing alternative trading options.
The planned removal of these stablecoins could significantly affect traders who currently depend on them due to potential liquidity and trading pair changes. However, it also presents an opportunity for compliant stablecoin projects to capture increased market share in Europe.
