Kraken Delists USDT in EEA
Kraken, a major cryptocurrency exchange, will delist Tether (USDT) and four other stablecoins in the European Economic Area (EEA) by March 31, 2025. This move is in preparation for the upcoming regulatory changes under the Markets in Crypto-Assets (MiCA) regulation.
Key Takeaways
- Kraken will delist USDT, PYUSD, EURT, TUSD, and UST in the EEA.
- The delisting process begins February 13, 2025, with a complete halt to spot trading on March 24, 2025.
- Remaining EEA client holdings will be automatically converted to a compliant stablecoin by March 31, 2025.
Phased Delisting Process
The delisting will occur in phases:
- February 13, 2025: Margin pairs involving the affected stablecoins will be set to "reduce-only" for EEA clients.
- February 27, 2025: Spot trading will be restricted to "sell-only" mode. New deposit addresses will cease generation.
- March 17, 2025: Outstanding margin positions will be automatically closed.
- March 24, 2025: All spot trading for these stablecoins will halt for EEA clients. Open orders will be canceled.
- March 31, 2025: Remaining EEA client holdings will be automatically converted to an equivalent MiCA-compliant stablecoin. Assets deposited after this date can only be withdrawn.
Affected stablecoins include: Tether (USDT), PayPal USD (PYUSD), Euro Tether (EURT), TrueUSD (TUSD), and TerraUSD (UST).
Kraken’s decision reflects the increasing regulatory scrutiny of stablecoins in Europe. Other major exchanges, such as Crypto.com, have also announced similar delistings to ensure MiCA compliance.
For detailed information on the delisting process, refer to Kraken’s official support page: Kraken Support Article
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