Crypto
MiCA's Looming Deadline: Crypto Exchanges Shake-Up Stablecoins
The European Union’s Markets in Crypto-Assets Regulation (MiCA) will come into effect on 30 June, which is only three days away. As such, many crypto exchanges offering services in the bloc are already taking measures, mostly by dropping stablecoin offerings.
“This will be a first step entering the new regulatory framework, and it will have a significant impact on the stablecoin market in the European Economic Area (EEA),” Binance, the largest crypto exchange in terms of trading volume, stated.
Crypto Exchanges Dropped Stablecoins
At least four cryptocurrency exchanges have confirmed that they are restricting some stablecoin access to users within the EEA. Bitstamp was the latest to confirm on Wednesday that it would delist the euro-denominated stablecoin, EURT, before the 30 June deadline.
EURT is a EUR-pegged stablecoin issued by Tether, the company behind the largest circulated stablecoin, USDT, with a market capitalisation of more than $112.7 billion. Interestingly, Bitstamp became one of the first crypto exchanges to list EURT in November 2021.
“Electronic Money Tokens (EMTs) which are not Euro-denominated and are already available on the exchange but not within MiCA regulation, will not be delisted, although their availability to European customers will be limited on certain products,” Bitstamp wrote in its announcement.
“Bitstamp will not list any new EMTs that don’t meet MiCA requirements, nor will it engage in any marketing of them.”
Another major name to take action ahead of MiCA is Binance. As Finance Magnates reported earlier, the crypto exchange already blocked access to some services, including copy trading. It will also bring further restrictions, including restricting the purchase of unauthorised stablecoins and limiting new borrowings and transfers of unauthorised stablecoins in margin trading.
We are 10 days away from the new MiCA regulations going into effect and basically every major exchange has either started to pull stablecoin support off their exchanges – and USDC, which everyone assumed would have their EMI license by now, doesn’t. Today from @binance 👇
If the… pic.twitter.com/z1U9bkuTdr
— Rob Hadick >|< (@HadickM) June 20, 2024
Uphold, another crypto exchange with ties to Ripple, also confirmed the delisting of six stablecoins, including the popular USDT, for European users. However, it will continue to support USDC, EURC, and PYUSD.
Comply with MiCA from 30 June
Similar to MiFID, MiCA will bring cryptocurrency services to the EU under one regulatory umbrella. The regulation will impact the distribution of the cryptocurrencies in the bloc, meaning both retail and institutional players will be affected in some way or another.
With the EU parliament’s approval in 2023, MiCA is set to be implemented in two phases: the rules around stablecoins to come into effect on 30 June 2024 and then the wider compliance on exchanges and wallets to be effective from 30 December 2024.
Under MiCA, fiat-backed stablecoins in the bloc would be categorised as ‘e-money tokens’, whereas other asset-backed tokens would be ‘asset-referenced tokens’. In both cases, the stablecoin issuers must maintain a 1:1 reserve. It will also bring algorithmic stablecoins under the purview, mandating them to maintain value.
The regulations would also restrict the daily transaction limit with non-euro pegged stablecoins to merely $1 million.
“As the world’s longest-running cryptocurrency exchange, we have consistently advocated for a proportionate response to regulation which protects consumers while allowing for the ongoing maturation of cryptocurrencies as an asset class,” said James Sullivan, UK Managing Director at Bitstamp. “We are communicating directly with the small proportion of our customers whose asset mixes are affected.”
Exchanges Are Preparing for Months
A few crypto exchanges were already taking steps to comply with MiCA earlier this year. In March, OKX confirmed its delisting of USDT pairs in the EEA, without mentioning MiCA. “Please note that not all tokens are available in all markets due to regulatory requirements,” an email sent by the exchange to its European customers noted.
Interestingly, Kraken also reviewed the USDT pairs it offered in the EU and considered removing them to comply with MiCA, according to a Bloomberg report in March. However, following the report, Kraken’s Global Head of Asset Growth and Management, Mark Greenberg, clarified that the exchange “continues to list USDT in Europe and we have no plans to delist at this time.”
“We know our European clients value access to USDT and we continue to look at all options to offer USDT under the upcoming regime,” he added. “We will of course follow all legal requirements, even those we disagree with. But the rules are not finalised yet and we continue to do everything we can to continue to offer all relevant stablecoins to our European customers.”
Let’s be clear: @krakenfx continues to list USDT in Europe and we have no plans to delist at this time.
We know our European clients value access to USDT and we continue to look at all options to offer USDT under the upcoming regime.
We will of course follow all legal…
— Mark Greenberg (@marklg) May 18, 2024
Until now, Kraken did not announce anything officially on delisting any stablecoin pairs to comply with MiCA.
Interestingly, a recent report revealed that only 9 percent of the cryptocurrency firms, out of 68 surveyed, are fully compliant with MiCA requirements, whereas another 25 percent are yet to commence preparations.
The European Union’s Markets in Crypto-Assets Regulation (MiCA) will come into effect on 30 June, which is only three days away. As such, many crypto exchanges offering services in the bloc are already taking measures, mostly by dropping stablecoin offerings.
“This will be a first step entering the new regulatory framework, and it will have a significant impact on the stablecoin market in the European Economic Area (EEA),” Binance, the largest crypto exchange in terms of trading volume, stated.
Crypto Exchanges Dropped Stablecoins
At least four cryptocurrency exchanges have confirmed that they are restricting some stablecoin access to users within the EEA. Bitstamp was the latest to confirm on Wednesday that it would delist the euro-denominated stablecoin, EURT, before the 30 June deadline.
EURT is a EUR-pegged stablecoin issued by Tether, the company behind the largest circulated stablecoin, USDT, with a market capitalisation of more than $112.7 billion. Interestingly, Bitstamp became one of the first crypto exchanges to list EURT in November 2021.
“Electronic Money Tokens (EMTs) which are not Euro-denominated and are already available on the exchange but not within MiCA regulation, will not be delisted, although their availability to European customers will be limited on certain products,” Bitstamp wrote in its announcement.
“Bitstamp will not list any new EMTs that don’t meet MiCA requirements, nor will it engage in any marketing of them.”
Another major name to take action ahead of MiCA is Binance. As Finance Magnates reported earlier, the crypto exchange already blocked access to some services, including copy trading. It will also bring further restrictions, including restricting the purchase of unauthorised stablecoins and limiting new borrowings and transfers of unauthorised stablecoins in margin trading.
We are 10 days away from the new MiCA regulations going into effect and basically every major exchange has either started to pull stablecoin support off their exchanges – and USDC, which everyone assumed would have their EMI license by now, doesn’t. Today from @binance 👇
If the… pic.twitter.com/z1U9bkuTdr
— Rob Hadick >|< (@HadickM) June 20, 2024
Uphold, another crypto exchange with ties to Ripple, also confirmed the delisting of six stablecoins, including the popular USDT, for European users. However, it will continue to support USDC, EURC, and PYUSD.
Comply with MiCA from 30 June
Similar to MiFID, MiCA will bring cryptocurrency services to the EU under one regulatory umbrella. The regulation will impact the distribution of the cryptocurrencies in the bloc, meaning both retail and institutional players will be affected in some way or another.
With the EU parliament’s approval in 2023, MiCA is set to be implemented in two phases: the rules around stablecoins to come into effect on 30 June 2024 and then the wider compliance on exchanges and wallets to be effective from 30 December 2024.
Under MiCA, fiat-backed stablecoins in the bloc would be categorised as ‘e-money tokens’, whereas other asset-backed tokens would be ‘asset-referenced tokens’. In both cases, the stablecoin issuers must maintain a 1:1 reserve. It will also bring algorithmic stablecoins under the purview, mandating them to maintain value.
The regulations would also restrict the daily transaction limit with non-euro pegged stablecoins to merely $1 million.
“As the world’s longest-running cryptocurrency exchange, we have consistently advocated for a proportionate response to regulation which protects consumers while allowing for the ongoing maturation of cryptocurrencies as an asset class,” said James Sullivan, UK Managing Director at Bitstamp. “We are communicating directly with the small proportion of our customers whose asset mixes are affected.”
Exchanges Are Preparing for Months
A few crypto exchanges were already taking steps to comply with MiCA earlier this year. In March, OKX confirmed its delisting of USDT pairs in the EEA, without mentioning MiCA. “Please note that not all tokens are available in all markets due to regulatory requirements,” an email sent by the exchange to its European customers noted.
Interestingly, Kraken also reviewed the USDT pairs it offered in the EU and considered removing them to comply with MiCA, according to a Bloomberg report in March. However, following the report, Kraken’s Global Head of Asset Growth and Management, Mark Greenberg, clarified that the exchange “continues to list USDT in Europe and we have no plans to delist at this time.”
“We know our European clients value access to USDT and we continue to look at all options to offer USDT under the upcoming regime,” he added. “We will of course follow all legal requirements, even those we disagree with. But the rules are not finalised yet and we continue to do everything we can to continue to offer all relevant stablecoins to our European customers.”
Let’s be clear: @krakenfx continues to list USDT in Europe and we have no plans to delist at this time.
We know our European clients value access to USDT and we continue to look at all options to offer USDT under the upcoming regime.
We will of course follow all legal…
— Mark Greenberg (@marklg) May 18, 2024
Until now, Kraken did not announce anything officially on delisting any stablecoin pairs to comply with MiCA.
Interestingly, a recent report revealed that only 9 percent of the cryptocurrency firms, out of 68 surveyed, are fully compliant with MiCA requirements, whereas another 25 percent are yet to commence preparations.
Crypto
The rise of Polymarket, the cryptocurrency-based betting site for current events
Will the United States strike Iran? Who will win the Super Bowl? The Oscars? The municipal elections in Paris? These uncertainties can pay off big on Polymarket. With a rather austere appearance, the American website presents thousands of questions, allowing bettors to wager on the outcome of current events and collect winnings if they choose correctly.
In the United States, such prediction market platforms are booming. In November 2025, the volume of bets on Polymarket and Kalshi, the two leaders in the sector, was estimated at nearly $13 billion (€10.9 billion). By early 2026, Polymarket has claimed tens of millions of visitors and hundreds of thousands of active traders.
Molly White, a researcher and engineer from Northeastern University in Boston, Massachusetts, described “a powerful trend” in the United States, “where everything becomes an excuse for gambling.” Nikos Smyrnaios, a professor of social sciences at the University of Toulouse, added that there are issues raised by “risk speculation,” which he described as characterized by “a total absence of ethics.”
You have 82.93% of this article left to read. The rest is for subscribers only.
Crypto
Gianni Infantino says FIFA may launch its own cryptocurrency
FIFA reveals plan for ‘football ecosystem’ in Gaza with AI-generated video
President Gianni Infantino announced the world soccer organization’s investment in the reconstruction of Gaza with an AI-generated video at a Board of Peace event.
FIFA president Gianni Infantino has said his organization is studying the possibility of launching its own cryptocurrency.
This week, Infantino appeared at the World Liberty Forum hosted at President Donald Trump’s Mar-a-Lago resort in Palm Beach, Florida.
The event was attended by heavyweights in the finance industry including bankers, crypto executives, U.S. senators and celebrities like Nicki Minaj and Kevin O’Leary.
The president’s sons Eric Trump and Donald Trump Jr. were among the hosts of the event, which was also a showcase for the Trump family’s crypto initiative World Liberty Financial.
Infantino posted a recap of his appearance on Instagram, touting FIFA’s AI initiatives ahead of the 2026 World Cup that will “drive fan engagement, improve fan experiences, elevate global media distribution and broadcast, provide the 48 participating teams with additional match data, and further support the officiating of the 104 matches.”
The FIFA president also mooted the idea of global soccer’s governing body launching its very own crypto venture.
“We are also studying the development of a FIFA token and a FIFA coin — a real potential global currency serving 6 billion football fans worldwide,” he said.
Following his appearance at the World Liberty Forum, Infantino headed to Washington, D.C. where he was in attendance as Trump convened the first meeting of his Board of Peace.
At the meeting, Infantino announced FIFA was planning a $70 million investment in Gaza to help rebuild the war-torn region.
The global governing body said it plans to build “a complete football ecosystem” including mini pitches, full-sized pitches, and academy and a national stadium.
Crypto
Bitcoin ATM warning signs reduced crypto crimes 90% in Outagamie County, detective says
APPLETON, Wis. (WBAY) — Last year, victims in Wisconsin reported losing $43 million to cryptocurrency scams.
In a Consumer First Alert, we talked with a detective on the frontlines investigating crypto crimes happening in our neighborhoods.
How scammers target victims unfamiliar with cryptocurrency
We’ve been sharing victims’ scam stories.
“I was shaking. I was crying. I was inconsolable. I couldn’t believe what I had just done,” said Beth, a Fox Valley woman who exposed the scam that started with a computer pop-up warning and led her to a Bitcoin machine in January.
“So I started putting the money in, and putting the money in…and putting money in. Stopped, show my license, put the money in again,” Beth said.
Most victims of this growing crypto crime are like Beth, who asked us not to use her last name.
“Never saw a Bitcoin machine before, had no idea,” she said.
But investigators say scammers are convincing.
“We’ve had uniformed officers and detectives even trying to intercept these individuals while they’re at the machines, and the victims will still be adamant that it’s real and will not listen to our officers,” said Sgt. Sheldon Pedranzan with the Outagamie County Sheriff’s Office.
Crime exceeds bank robberies
With more Bitcoin kiosks showing up in gas stations and stores, Pedranzan has seen scams escalate.
“It used to be bank robberies were the biggest crime in the world. Bigger than bank robberies at this point,” he said.
“This is one that we definitely are not immune to in Northeast Wisconsin. Globally there’s been about $158 billion worth of illicit digital asset funds. But then in the U.S., there’s been 4.8 billion that are due to cryptocurrency scams. And then even in Wisconsin, it was $43 million even in a year for victims that have lost money within the crypto world because of these scams,” Pedranzan said.
“I’ve had some victims that have lost close to a million dollars in some of these scams,” Pedranzan said.
Time is critical for cryptocurrency crime investigations
Pedranzan says when a scammer directs a victim to deposit cash into a crypto ATM, time is critical.
“Time is of the essence, really, for these cases. Prior to a couple of years ago, we were unable to do anything for our victims,” Pedranzan said.
“Once it is sent off into, we will call it ‘Crypto Land,’ these criminal organizations are very good at what they do, and they begin to launder the money,” he said.
New technology helps track stolen cryptocurrency
But now with a crypto crime fighting tool new to Outagamie County Sheriff’s Department, Pedranzan shows how they track the funds scammers steal.
“You can see just how many transactions will occur in a very short amount of time,” he said.
“This is a great visual to kind of show just how quickly the funds move and what they’re doing with them,” Pedranzan said.
“So the software that we are able to utilize, which is a blockchain analysis tool, it assists us in being able to recognize some of these patterns and to be able to plot it down into a map so it makes sense, not only for our sake as far as the investigator to be able to follow, but ultimately at some point if we are successful in recovering some of these funds, we also have to be able to show that to, you know, a judge or the district attorney’s office that can process this and get them to understand it, because a lot of people aren’t familiar with the digital asset world,” Pedranzan said.
Without revealing investigative techniques, he explains the challenge.
“If I’m chasing $10,000, and now all of a sudden they’re putting maybe 3,000 will take a direction, start spider webbing off over here, then I have to follow another 2,000 and then it just keeps either splitting,” he said.
He says most money moves overseas, making these crimes difficult to track and prosecute.
“To actually locate each individual transaction is where you have to go through and do all the hard work,” Pedranzan said.
Quick reporting leads to recovery success
But quick reporting by victims, as in Beth’s case, makes her one of the lucky ones.
“I said, ‘Call the police,’” Beth said.
“We are able to basically follow it very quickly and get ahead of it to be able to recover those funds. So time really matters. And also for these ATM companies, there is some liability on their side,” Pedranzan said.
“The reality is these ATMs do profit off of even the victims. They want to deter it, but they don’t necessarily want to draw attention to it,” he said.
Warning signs reduce crypto scams by 90%
The sheriff’s department is drawing attention to the scams with warning signs at Bitcoin ATMs in the county.
“We approached pretty much every business or gas station in the area that had some of these ATMs and asked if we could place additional placards on,” Pedranzan said.
It’s made a difference.
“We now have probably reduced the number of these cases by probably 90%,” he said.
“Or it gets them just enough of a pause to kind of get them to second-guess it and to think whether or not this is something they should be doing,”
Sergeant Pedranzan encourages people to be cautious and report these crypto crimes immediately.
“Some of these, really, the stars have to align before we can even potentially recover the money for them. So step one is just reporting it and seeing if there is something that we can take action on and potentially get that money back for them,” Pedranzan said.
If you think you’ve been scammed or need information, call the Outagamie County Sheriff’s Office at (920) 832-5000.
Consumer First Alert’s report on counterfeit Pokémon cards will be featured on national TV, on Friday’s InvestigateTV+ at 3:30 on WBAY-TV.
Copyright 2026 WBAY. All rights reserved.
-
Montana2 days ago2026 MHSA Montana Wrestling State Championship Brackets And Results – FloWrestling
-
Oklahoma4 days agoWildfires rage in Oklahoma as thousands urged to evacuate a small city
-
Culture1 week agoRomance Glossary: An A-Z Guide of Tropes and Themes to Find Your Next Book
-
Technology1 week agoHP ZBook Ultra G1a review: a business-class workstation that’s got game
-
Science1 week agoWhat a Speech Reveals About Trump’s Plans for Nuclear Weapons
-
Culture1 week agoVideo: How Much Do You Know About Romance Books?
-
Politics1 week agoTim Walz demands federal government ‘pay for what they broke’ after Homan announces Minnesota drawdown
-
News1 week ago
Second US aircraft carrier is being sent to the Middle East, AP source says, as Iran tensions high