OKX, a cryptocurrency and digital assets exchange based in Seychelles, has reportedly ceased support for Tether (USDT) trading pairs in the European economic area. This information was shared on the X social media platform through a screenshot of a customer support message. The message revealed that OKX will be launching over 30 new euro spot trading pairs while removing the USDT trading pairs. The exact reason for this delisting remains unknown as neither OKX nor Tether have responded to requests for further information. Speculation on social media suggests that the delisting may be related to the stablecoin rules outlined in the Markets in Crypto-Assets (MiCA) regulatory framework. Although the customer support message did not explicitly mention this, it did refer to “regulatory requirements” as the cause for the difference in token listings across different regions. The introduction of new legislation regarding stablecoins could pose challenges for exchanges trying to comply with the rules. The MiCA legislation is expected to be implemented by the end of 2024, with stablecoin rules set to be launched in the second quarter of that year. In related news, Binance has also announced plans to delist several TrueUSD trading pairs.
OKX allegedly removes USDT pairs in Europe