Crypto exchange Coinbase will delist stablecoins that fail to comply with the European Union’s Markets in Crypto-Assets (MiCA) regulation for customers in the European Economic Area (EEA) by December 30. 

This move aligns with the EU’s effort to introduce tighter controls on crypto assets, requiring stablecoin issuers to obtain e-money authorization in at least one member state.

The new MiCA regulation, expected to take full effect in by January 2025, is part of a broader digital finance package aimed at standardizing the crypto landscape across the EU. It covers various aspects, including the issuance, offering, and trading of crypto assets. 

MiCA divides crypto assets into categories such as electronic money tokens (EMTs) and asset-referenced tokens (ARTs), impacting fiat-backed stablecoins the most. The regulation has been hailed as one of the most comprehensive in the world​. 

A Coinbase spokesperson told Decrypt that the exchange will provide details about a transition plan in November to help its European customers switch to compliant stablecoins, including USDC and EURC. 

This follows Circle’s recent move to secure an EU stablecoin license,

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Author: Murtuza Merchant

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