Bitstamp, recognized as the world's oldest operating cryptocurrency exchange, has announced significant updates to its platform ahead of the Markets in Crypto-Assets Regulation (MiCA), set to be enforced across the European Union on June 30.
The exchange has confirmed that the EUR-denominated stablecoin EURT will be delisted before the regulatory deadline.
Maintaining Non-Euro EMTs
Electronic Money Tokens (EMTs) currently available on Bitstamp, which do not fall under Euro denomination and are not yet within MiCA's regulatory scope, will remain listed. However, these tokens will have restricted availability for European customers on specific products.
Bitstamp has declared its intention to refrain from listing any new EMTs that do not comply with MiCA requirements, as well as abstaining from marketing such tokens. The exchange boasts over 50 licenses globally, positioning itself as one of the most regulated exchanges.
???? We're making some changes to accord with MiCA regulation coming into force on June 30th.EURT will be delisted, and EMTs will have limited availability to European customers. Our commitment to compliance and security stays strong. Learn more: https://t.co/S4xSlgL0fO
— Bitstamp (@Bitstamp) June 26, 2024
Aligning with MiCA Standards
Acknowledging its proactive stance on regulatory compliance, Bitstamp affirms its alignment with many of MiCA's existing standards. The exchange continues to vigilantly monitor further developments in the MiCA framework to ensure ongoing adherence to regulatory mandates.
“We welcome MiCA’s implementation to make crypto regulation uniform across the European Union. As the world’s longest-running cryptocurrency exchange, we have consistently advocated for proportionate response to regulation which protects consumers while allowing for the ongoing maturation of cryptocurrencies as an asset class.”
“Our commitment to compliance and security means we are in a strong position to adapt to these welcome changes. We are communicating directly with the small proportion of our customers whose asset mixes are affected,” said James Sullivan, UK Managing Director at Bitstamp.
This article was written by Tareq Sikder at www.financemagnates.com.
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