OKX to withdraw USDT trading pair in Europe

OKX is phasing out tether ( USDT

-0.26%
) Trading pairs in the European Economic Area (EEA) are decreasing as the European Union prepares to introduce a comprehensive regulatory framework for cryptocurrencies, The Block has confirmed.

The world’s fourth-largest cryptocurrency exchange by trading volume will end support for the USD-T trading pair, according to an email received by European traders. The delisting comes months before the EU implements MiCA, which is scheduled to take full effect on December 30, 2024. This regulation will restrict the use of certain stablecoins within the region.

A customer support representative confirmed on Monday that starting March 14th, Tether will no longer be available to traders within the EEA. However, the OKX website shows that USDT pairs are still available within the EEA as of March 15th.

The email from OKX, seen by The Block, did not specify that MiCA was the cause of the delisting, but did say:

“Please note that due to regulatory requirements, not all tokens are available in all markets.”

Representatives for OKX did not immediately respond to The Block’s email request for comment.

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