Tether and Coinbase are adjusting their services in the European Union ahead of the implementation of MiCA regulations. Tether will stop supporting EURT, with a redemption deadline set for November 2025. This move aligns with MiCA's stringent compliance requirements.
Similarly, Coinbase has decided to end its USDC Rewards program for EU customers on December 1, 2024. This decision comes in response to MiCA regulations banning interest earnings on stablecoins.
MiCA requires strict compliance by December 30, 2024. Critics have expressed concerns that MiCA might place European crypto projects at a disadvantage, while potentially benefiting non-EU ventures.
