Coinbase to Delist EU Non-Compliant Stablecoins in December (1)

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 is set to fully implement new rules to oversee the crypto industry, known as MiCA, by the end of this year. Regulation of stablecoin issuers under MiCA took effect on June 30 and requires them to hold e-money authorization in at least one member state. Guidance for crypto exchanges and other companies operating in the bloc will kick in from Dec. 31.

“Given our commitment to compliance, we ...