Kraken Says No Plans to Delist Tether’s USDT Stablecoin in Europe

cryptonews.com:

Cryptocurrency exchange Kraken reassured users it has no plans to delist Tether stablecoin USDT in Europe and will continue to follow all legal requirements.

In an announcement on social media, Kraken’s global head of asset growth and management, Mark Greenberg addressed a recent report about the exchange “actively reviewing” and potentially delisting USDT from the European market.

Greenberg said, that European clients value access to USDT and the firm continues to look at all options to offer USDT under the upcoming regime.

Let's be clear: @krakenfx continues to list USDT in Europe and we have no plans to delist at this time.

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…

— Mark Greenberg (@marklg) May 18, 2024

The European Union’s Markets in Crypto Assets regulation (MiCA) takes effect later this year and the new regulations focus on stablecoins, which are crypto assets promising a stable value against currencies.

In November 2023, the Securities and Exchange Commission (SEC) initiated a lawsuit against Kraken. The SEC alleged it had been operating an unregistered securities trading platform. This suit came months after settling charges over Kraken’s former staking service.

In February 2024, Kraken filed to dismiss the lawsuit, contending that it relied solely on a registration-based argument regarding Kraken’s operation as an unlicensed securities entity. Kraken argued that cryptocurrencies listed as SEC-compliant should be treated like commodities and not securities.

However, now Kraken has escalated its position, urging the court to dismiss the claims to avoid a “significant reordering” of the US financial