Crypto.com spoils USDT and other symbols to comply with Mika

Crypto.com will be removed Rope USDT Stablecoin by January 31 as part of the efforts made to comply with the European markets in organizing encrypted trim (MICA), according to emails obtained by Cryptoslate.

The stock exchange will also remove nine other symbols, including bitcoin wrapped (Wbtc), DaiPax Dollar (USDP), Paypal usd (pyusdCrypto.com’s Staped Eth (Steth), Staped Sol (STSOL), CRONOS Liquid (LCRO), and XsGD.

After the deadline on January 31, users will be until March 31 to withdraw these assets. Crypto.com stated that any remaining symbols after this date will be converted automatically to a Compatible with mica Stablecoin or any other assets of the equivalent market value.

Mika and USDT

Mika It provides strict regulatory criteria for encryption companies operating in the European Economic Zone (EA).

The list is strict Reserve requirements For stablecoins, guarantee more financial transparency and consumer protection. This condition has been presented Great challenges for USDTThe largest stablecoin by the market value.

Tether CEO Paulo Erdino Warning that these requirements can create regular risks for both the banking sector and digital assets.

Despite these obstacles, Tether is actively investing in projects that are in line with European regulations. The company supported Quantoz and StablerTWO companies focused on the euro -based Stablecoins designed for full organizational compliance.

Crypto.com Mika license

Crypto.com decision to delete usdt follows his last speech Approval under Mika.

On January 27, the company Declare It has obtained a complete organizational approval from the MFSA, which makes it one of the first exchange exchanged work in all parts of the European Economic Zone under the new framework.

This approval allows Crypto.com to provide organized encryption services throughout Europe, ensuring more transparency and legal certainty of its users.

This step also enhances the stock market’s commitment to work within an organizational environment where the area tightens the supervision of digital assets.

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