Impact of Coinbase Delisting Tether and MICA Non-Compliant Stablecoins Coinbase's decision to delist Tether (USDT) and other non-compliant stablecoins in Europe significantly underscores the evolving regulatory landscape shaped by the European Union's Markets in Crypto-Assets (MiCA) regulations. This step, communicated on December 13, 2024, is part of Coinbase's compliance strategy aimed at mitigating regulatory risks ahead of implementation deadlines for these regulations Key Actions and Affected Stablecoins • The stablecoins targeted for delisting include: • Tether (USDT) • Paxos Standard (PAX) • PayPal USD (PYUSD) • Gemini Dollar (GUSD) • GYEN • DAI • This delisting is contingent upon the stablecoins not complying with MiCA regulations, which require stablecoin issuers to obtain relevant e-money authorization across at least one EU member state. • In contrast, Coinbase will continue supporting USD Coin (USDC) and the euro-pegged EURC, both of which fulfill the compliance criteria. Show Less