Coinbase said it will evaluate reactivating services for stablecoins that achieve MiCA compliance at a later date.
Cryptocurrency exchanges in Europe are preparing to delist stablecoins that do not comply with local regulations as the deadline for the enforcement of crypto rules in Europe approaches.
Coinbase Europe, Coinbase Germany and Coinbase Custody International decided to delist Tether’s USDT and five other stablecoins on Dec. 13, Coinbase told Cointelegraph.
"Based on the latest information, we currently expect that we will need to restrict services for the following assets: USDT, PAX, PYUSD, GUSD, GYEN and DAI," Coinbase said, referring to these coins as assets restricted by Europe's Markets in Crypto-Assets Regulation (MiCA).
Coinbase continues to support USD Coin and the euro-pegged stablecoin EURC (EURC), which is jointly operated by Coinbase and US crypto firm Circle
Potential relistings are on the agenda
MiCA's phase one stablecoin regime has been in force since June 30th, but the full regulatory framework for crypto asset service providers (CASPs) will come into force from December 30th.
Coinbase previously announced plans to delist MiCA-restricted stablecoins in October, inviting users to convert their holdings of non-compliant coins to other stablecoins such as USDC.