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The Kraken cryptographic platform is preparing to withdraw the Tether USDT in Europe due to new rules imposed by Mica law. Faced with this constraint, the exchange plans to launch its own stablecoin fixed to the US dollar. A strategic decision that could reshape the stable market and challenge Tether’s hegemony!
Kraken forced to remove the USDT under pressure from the Crypto-Duto Mica
The Mica regulatory framework gradually enters into force in the European economic field (EEE). It imposes strict rules on stablescoins. His goal? To improve transparency and limit the influence of non -compliant transmitters. In this context, the Crypto Company Kraken Must cease the use of the USDT, which remains the most exchange stable on its platform.
According to Coingecko, USDT / USDT / EUR pairs represent more than 30% of the negotiation volumes of the Exchange crypto. Despite this, Kraken announced a progressive withdrawal:
- February 13, 2025: The transition of the margin goes on to a “reduction” mode
- February 27, 2025: Go to “Sell only” mode for USDT
- March 24, 2025: Total judgment of transactions and withdrawal of trading pairs
According to the Crypto Company, this decision aims to:
- Ensure compliance with mica,
- Provide cryptocurrency investors with a transition.
However, some European crypto traders said the USDT was still available on the platform. It led to a certain confusion!
Kraken responds with his own stablecoin USD
Faced with this regulatory constraint, Kraken does not only accept it. Indeed, the Crypto platform provides Launch his own stable coin from the US dollar. According to BloombergThis initiative could be carried out through its Irish subsidiary. In this country, the regulation of cryptographic assets is supposed to be more flexible.
The launch of a owner stable would allow Kraken to:
- Maintain control of liquidity flows,
- Free yourself from the restrictive rules imposed on third -party stables as USDT.
This strategy resembles that of Crypto.com, which also plans to Free a stablecoin in accordance with mica for the third quarter of 2025.
If Kraken realizes this project, he will join the main players in the cryptography industry. We refer in particular to Binance and Circle, who already have their own stablecoins (Busd and USDC).
The objective is clear: Reduce dependence on Tether, which currently dominates the cryptocurrency market with a market capitalization of $ 142 billion.
What impact for cryptographic investors in Europe?
THE Disappearance of the USDT in Europe could change the strategies of merchants and cryptographic investors. Indeed, this digital asset plays a key role in DEFI. It also serves as a reference to many transactions.
His withdrawal could therefore lead to:
- A temporary decrease in liquidity on Kraken,
- An increase in the volatility of other stablescoins,
- A migration of users to alternatives like USDC or new stablecoins.
Some cryptocurrency experts believe that this development could strengthen The adoption of regulated stablescoins. One thing is certain: the race for stablecoins has only just begun!
The withdrawal of the USDT in Europe marks a turning point for the cryptocurrency market. Kraken and other players are betting on stablescoins regulated to adapt. It remains to be seen whether these alternatives will call on crypto traders or if the storm will find a way to bounce back!
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My name is Ariela and I am 31 years old. I have been working in the field of web writing for 7 years now. I only discovered trading and cryptocurrency a few years ago, but it is a universe that interests me a lot. The subjects covered on the platform allow me to know more. A singer during my free time, I also cultivate a great passion for music and reading (and animals!)
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The points of view, the thoughts and opinions expressed in this article belong only to the author and must not be considered as investment advice. Do your own research before making investment decisions.
