Update: Kraken says no plans to delist USDT in Europe

• Kraken is exploring all options to continue offering USDT for EU customers.
• Mark Greenberg, Kraken’s Global Head of Asset Growth and Management, confirmed this via a post on X.

Kraken is not looking to end support for Tether (USDT) in the European Union, a company official has confirmed.

A Bloomberg report on Friday stated that Kraken was “actively reviewing” plans to end support for the stablecoin in the EU. The exchange’s apparent position related to upcoming implementation of the Markets in Crypto Assets (MiCA) regulations, according to an official. 

Kraken to continue offering USDT for EU customers

Mark Greenberg, Kraken’s Global Head of Asset Growth and Management, has now provided an update on the matter. He commented on the issue on Saturday.

In a post on X, Greenberg said the exchange has no plans to delist Tether. He also emphasised USDT’s role and importance as the world’s largest stablecoin to Kraken’s business and customers in Europe.

“Let’s be clear: [Kraken] continues to list USDT in Europe and we have no plans to delist at this time,” Greenberg posted.

Per the update, Kraken is exploring all options towards the continued support for USDT.  The exchange is indeed looking to comply with the MiCA regulations, Greenberg added.

“We know our European clients value access to USDT, and we continue to look at all options to offer USDT under the upcoming regime. We will, of course, follow all legal requirements, even those we disagree with. But the rules are not finalised yet, and we continue to do everything we can to continue to offer all relevant stablecoins to our European customers,” Greenberg noted.

As highlighted in our previous report, EU’s MiCA regulations are set to come into effect starting this July with stablecoin rules and on December 30, 2024 for crypto exchanges.