World Crypto Global
- Written by: Tareq Sikder
- Wed, 26 Jun 2024
- Israel
Bitstamp, recognized as the world's oldest operatingcryptocurrency exchange, has announced significant updates to its platformahead of the Markets in Crypto-Assets Regulation (MiCA), set to be enforcedacross the European Union on June 30. The exchange has confirmed that theEUR-denominated stablecoin EURT will be delisted before the regulatorydeadline.Maintaining Non-Euro EMTsElectronic Money Tokens (EMTs) currently available onBitstamp, which do not fall under Euro denomination and are not yet withinMiCA's regulatory scope, will remain listed. However, these tokens will haverestricted availability for European customers on specific products.Bitstamp has declared its intention to refrain from listingany new EMTs that do not comply with MiCA requirements, as well as abstainingfrom marketing such tokens. The exchange boasts over 50 licenses globally,positioning itself as one of the most regulated exchanges. We're making some changes to accord with MiCA regulation coming into force on June 30th.EURT will be delisted, and EMTs will have limited availability to European customers. Our commitment to compliance and security stays strong. Learn more: https://t.co/S4xSlgL0fO Bitstamp (@Bitstamp) June 26, 2024Aligning with MiCA StandardsAcknowledging its proactive stance on regulatory compliance,Bitstamp affirms its alignment with many of MiCA's existing standards. Theexchange continues to vigilantly monitor further developments in the MiCAframework to ensure ongoing adherence to regulatory mandates.We welcome MiCAs implementation to make crypto regulationuniform across the European Union. As the worlds longest-runningcryptocurrency exchange, we have consistently advocated for proportionateresponse to regulation which protects consumers while allowing for the ongoingmaturation of cryptocurrencies as an asset class.Our commitment to compliance and security means we are in astrong position to adapt to these welcome changes. We are communicatingdirectly with the small proportion of our customers whose asset mixes areaffected, said James Sullivan, UK Managing Director at Bitstamp.This article was written by Tareq Sikder at www.financemagnates.com.
