Sun 23. February 2025 ▪
4
min at reading ▪
The Crypto Kraken platform is preparing to download USDT from Tether in Europe due to the new rules imposed by the Seca law. In the face of this restriction, the exchange plans to start its own Stablecoin at the US dollar. A strategic movement that could redraw the Stablecoin market and shaken Tether’s hegemony!
Kraken forced to remove USDT under pressure by law Crypto Mida
The regulatory framework of the mica will gradually enter into force in the European Economic Area (EEE). It stores strict rules for stablecoins. Its goal? Strengthen the transparency and reduce the influence of incomplete transmitters. In this context Crypto Kraken Company It must stop using USDT, which remains the most exchanged stable on its platform.
According to Coingecko, USDT/USDT/EUR pairs represent more than 30 % of the trade volumes of cryptocurrency. Yet Kraken announced a progressive download:
- 13 February 2025: Passage of pairs of margins only to “reduction” mode
- 27 February 2025: Sale only for sale for USDT
- March 24, 2025: Total Transaction The judgment and removal of pairs of trading
According to Crypto Company, this decision is focused on:
- Ensure adherence to the sheath,
- Guarantee investors in the cryptocurrency transition to cryptocurrency.
However, some European crypt traders said USDT was still available on the platform. What confusion of fuel!
Kraken retalies with its own stablecoin USD
Kraken is not subjected to this regulatory restriction. Indeed a crypto platform sets out Start your own stablecoin supported by US dollar. According to Bloomberg, this initiative could be carried out through an Irish subsidiary. In this country, the regulation of cryptocurrency is more flexible.
Starting the stable owner would allow Kraken to:
- Keep control over the liquidity flows,
- Liberate from restrictive rules stored in third -party stables, such as USDT.
This strategy reminds that Crypto.com that is also planning Stablecoin in accordance with the mica for the third quarter of 2025.
If Kraken specifies this project, the main players in the crypto industry will join. We refer to Binance and Circle, who already have their own stablecoins (BUSD and USDC).
The goal is clear: Reduce the dependence on Tether, which is currently dominated by the cryptocurrency market with a market capitalization of $ 142 billion.
What impact on Krypto Investors in Europe?
PUSH The disappearance of USDT in Europe It could adjust the strategies of traders and investors in crypto. In fact, this digital asset plays a key role in the defi. It also serves as a reference for many transactions.
Therefore, his download can train:
- temporary decline in liquidity to Kraken,
- Increasing the volatility of other stablekoin,
- Migration of users for alternatives such as USDC or new stablecoins.
Some cryptography experts believe that this development could strengthen Accepting regulated stablekoin. One thing is sure: the Stablecoins race is just beginning!
Download USDT in Europe means a break for the cryptocurrency market. Kraken and other players bet on regulated stablecoins to adapt. It remains to find out whether these alternatives are tempted by crypto traders or whether Tether finds a way to bounce!
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My name is Ariela and I’m 31 years old. I have been in the area of writing a website for 7 years. I have discovered discovery and cryptocurrency for only a few years. But it is a universe that interests me a lot. And subjects treated in the platform allow me to learn more. In my free time, the singer also cultivates a great passion for music and reading (and animals!)
Renunciation
The words and opinions expressed in this article are involved only by their author and should not be considered investment counseling. Do your own research before any investment decision.
