Tether, which is the largest issuer of stablecoins, has not managed to snag the necessary e-money license yet in the European Union.

Coinbase reportedly plans to cut support for certain stablecoins in the European Union (EU) by the end of the year.

A statement from publicly traded Coinbase announced that the leading exchange was delisting all unauthorized stablecoins from its EU exchange by the end of the year. Tether Holding’s USDT would be among the most affected stablecoins as MiCA preps to implement the new regulations fully.

Coinbase will delist certain stablecoins in the European Economic Area by year's end, the cryptocurrency exchange said on Friday, as the industry braces for tougher regulation in the region.

Coinbase Global Inc. will delist all unauthorized stablecoins from its crypto exchange in the European Economic Area by year-end, a potential blow for tokens like Tether Holdings Ltd.’s USDT.

The European Union’s Markets in Crypto-Assets Regulation (MiCA) is enforcing stricter oversight of crypto-related firms, and cryptocurrency exchange Coinbase is the latest to update its offerings in response.

Coinbase announced plans on Friday to delist stablecoins that are non-compliant with the European Union's MiCA laws beginning from December 30, per Bloomberg's report. Coinbase has proposed to end support for stablecoins that do not comply with the EU's Markets in Crypto Assets (MiCA) regulations.

Coinbase will delist stablecoins that don’t meet MiCA regulations by December 2024, offering conversions to compliant options.

Crypto exchange Coinbase is to delist stablecoins that fail to meet the EU’s Markets in Crypto-Assets (MiCA) regulation by December 30.

Coinbase Global to delist unauthorized stablecoins in the EU. New regulations force crypto exchanges to comply.