According to the latest decision, crypto exchange OKX delisted Tether from the platform for EU users. Here are more details about the matter below.
Crypto exchange OKX has discontinued support for cryptocurrency trading pairs involving Tether’s USDT stablecoin for users located in the European Union and the European Economic Area (EEA), according to a statement provided to CoinDesk by the exchange.
A follower on X hopped in the comments section and said the following:
“OKX discontinuing USDT trading pairs for EU users hints at potential regulatory challenges for the largest stablecoin.”
Someone else commented: “Changes in the air? OKX’s decision to discontinue USDT trading pairs hints at shifting regulatory landscapes.”
OKX’s platform on Monday offered spot crypto trading only with USDC and euro pairs, while USDT could only be traded against USDC and euro, according to CoinDesk’s confirmation through an E.U.-based OKX account.
An OKX spokesperson stated that the decision to focus on euro-denominated liquidity in the region was the reason for the action.
“This year our focus is to expand EURO pair liquidity and become the preferred venue for EURO to crypto spot trading,” the statement from the exchange said.
“We evaluated this decision and delisting the current USDT pairs only impacts a small subset of our user base. Importantly, we’ve recently expanded our product offering in the EEA by introducing a variety of Euro fiat onramps and Euro pairs.”
CoinDesk notes the following: “USDT remains available on the platform for EEA-based users to deposit and withdraw, and buy, sell and convert on over-the-counter (OTC) trading, the exchange’s representative added.”
Stay tuned for more juicy news from the crypto industry.
Supergiant Games has released the first major patch for Hades II Early Access, bringing a…
Exciting news for gaming and LEGO enthusiasts alike: LEGO Horizon Adventures is set to merge…
Canadians are facing massive wildfires in their country, and affected regions are even complying with…
Chapter 5 of Season 3 in Fortnite is approaching fast, and luckily enough for the…
MultiVersus, the game developed by the guys from Player First Games and launched back in…
OpenAI's controversial AI chatbot known as ChatGPT keeps going through some interesting changes. It seems…
This website uses cookies.