Popular cryptocurrency exchange OKX has decided to end Tether (USDT) services for its customers in Europe.
OKX has terminated USDT services in the European Economic Area (EEA) which includes 30 countries. This move, which comes on the eve of the European Union’s comprehensive cryptocurrency legislation, is seen as part of the exchange’s aim to comply with regulators.
As of March 14, USDT and all USDT-related trading pairs for users in the EEA have been removed from the exchange’s services. European users can still conduct cryptocurrency transactions on OKX using Euro and USD Coin (USDC) trading pairs:
We evaluated this decision and realized that removing existing USDT pairs only affected a small subset of our user base. More importantly, we have recently expanded our product offering in the EEA by introducing various Euro fiat pairs and Euro pairs.
The EU’s comprehensive legislation for cryptocurrencies, known as MiCA, is expected to officially come into effect on December 30, 2024.
