Regulation
Bitstamp confirms changes to the MiCA regulation agreement
Bitstampthe world’s longest-running cryptocurrency exchange, has confirmed improvements to its offering ahead of the Cryptocurrency Markets Regulation (MiCA) coming into force in the European Union on June 30.
The EUR-denominated stablecoin EURT will be delisted before the June 30 deadline.
Electronic money tokens (EMTs) that are not denominated in euros and are already available on exchanges but do not fall under the MiCA regulation will not be delisted, although their availability to European customers will be limited on some products.
Bitstamp will not list new EMTs that do not meet the MiCA requirements, nor will it engage in any marketing of them.
With over 50 licenses worldwide, Bitstamp is one of the most regulated exchanges in the world. Bitstamp is already compliant with many of the MiCA standards and is proactively monitoring the further development of the MiCA framework to ensure it continues to meet the requirements.
James Sullivan, UK managing director at Bitstamp, said: “We welcome the implementation of MiCA to make crypto regulation uniform across the European Union. As the world’s longest-running cryptocurrency exchange, we have consistently advocated for a proportionate response to regulation that protects consumers while enabling the continued maturation of cryptocurrencies as an asset class. Our commitment to compliance and security means we are in a strong position to adapt to these welcome changes. We are communicating directly with the small percentage of our clients whose asset mixes are affected.”