Kraken ‘Actively Reviewing’ Tether’s Status Under New EU Rules

Kraken is “actively reviewing” plans that may include removing support for the world’s most-traded cryptocurrency on its exchange in the European Union, under a new regime for digital assets that’s set to take effect in the bloc in July.

Tether Holdings Ltd.’s USDT, a stablecoin that aims to maintain a one—to-one value with the dollar, is expected to be impacted by upcoming EU rules known as MiCA. The guidance, which has yet to be finalized by the European Banking Authority, will place restrictions on stablecoins offered to investors in the bloc. Stablecoins are mostly used by traders to ...