OKX withdraws USDT trading pair from Europe

OKX is phasing out tethering. USDT

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) A trading pair has been confirmed for the European Economic Area (EEA) as the European Union (EU) prepares to adopt a comprehensive regulatory framework for cryptocurrencies, The Block has confirmed.

According to an email sent by OKX to European traders reviewed by The Block, the world’s fourth-largest cryptocurrency exchange by trading volume is discontinuing support for the USDT trading pair. The delisting comes just months before the EU implements MiCA, which will take full effect on December 30, 2024. These regulations will restrict the use of certain stablecoins in the region.

On Monday, a customer support representative confirmed that Tether will no longer be available to EEA traders starting March 14. However, OKX’s website shows that USDT pairs are still available to EEA traders as of March 15th at the time of writing.

The email from OKX did not explicitly state that MiCA was delisting, but did state the following:

“Not all tokens are available in all markets due to regulatory requirements.”

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

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