Regulation
Bitstamp confirms changes to MiCA regulations
Bit stampthe world’s oldest crypto exchange, has confirmed improvements to its offering ahead of the Markets in Crypto Assets (MiCA) regulation 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 (EMT) that are not denominated in euros and are already available on exchanges but are not subject to MiCA regulations will not be delisted, although their availability to European customers will be limited on certain products.
Bitstamp will not list any new EMTs that do not meet the MiCA requirements nor will it engage in any commercialization of the same.
With over 50 licenses worldwide, Bitstamp is one of the most regulated exchanges in the world. Bitstamp is already compliant with many of MiCA’s standards and is proactively monitoring further development of the MiCA framework to ensure it continues to meet requirements.
James Sullivan, UK Managing Director of Bitstamp, said: “We welcome the implementation of MiCA to standardize crypto regulation across the European Union. As the world’s oldest 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 communicate directly with the small proportion of our clients whose asset allocation is affected.