Bitstamp Delists Tether’s Euro Stablecoin

Bitstamp, one of the first exchanges to list Euro Tether in November 2021, announced on June 26 that it would delist EURT before the end of June.

Additionally, Bitstamp concluded that delisting stablecoin alongside the Euro did not comply with the European Union’s current laws for crypto assets before June 30. The delisting aligns with Bitstamp’s efforts to comply with the upcoming MiCA regulations.

Bitstamp Supports MiCA Regulation, Bitget Clarifies Stablecoin Restrictions

James Sullivan, Bitstamp’s UK managing director, announced support for MiCA’s mission to standardize crypto regulation across the European Union. Sullivan emphasized the need for rules that protect consumers while allowing cryptocurrencies to mature as an asset class.

He stated, “Our commitment to compliance and security means we are in a strong position to adapt to these welcome changes.” Bitstamp also communicates directly with customers whose asset mixes are affected by these changes.

Meanwhile, Bitget clarified that its latest stablecoin restriction will not affect non-euro-denominated stablecoins. These Electronic Money Tokens (EMTs) will not be delisted but will be available only for specific products for European customers.

Tether Ends EOS and Algorand USDT Support

In other news, Tether is ending support for EOS and Algorand by ceasing the minting of USDT on both blockchains today. However, USDT redemptions on EOS and Algorand will remain available for the next 12 months, during which Tether will review and potentially announce further changes.

Catching up with Alloy, it has been confirmed by Tether that its newly introduced memecoin will be backed by Gold. This new development proposes to provide users with the stability of Gold while being pegged to the US dollar, creating an overcollateralized synthetic dollar supported by Gold. Meanwhile, Tether is set to invest $1 billion in infrastructure, AI, and biotech development within the next 12 months, according to its boss Paolo Ardoino.