The introduction of the Markets in Crypto-Assets Regulation (MiCAR) marks a new chapter in European cryptocurrency regulation. While this is a step toward greater transparency and security, it also brings challenges for stablecoins and their providers.
MiCAR sets stricter rules for cryptocurrency platforms and stablecoin providers, ensuring stability and consumer protection. One key aspect is the compliance of stablecoins with these new regulatory standards.
Currently, no stablecoins meet the MiCAR requirements in full. USDC is the closest to compliance but cannot yet be confirmed as fully aligned. Consequently, the following coins may be affected:
If you hold any of these stablecoins, it’s essential to prepare for potential changes. Review your portfolio and consider reallocating your funds to avoid disruptions.
Knaken remains committed to keeping our users informed and ensuring smooth transitions. Stay tuned for updates as more information becomes available.
Knaken Cryptohandel B.V. has applied for a MiCA license from the Netherlands Authority for the Financial Markets (AFM). This application is currently being assessed by the AFM.
Investing in crypto-related products involves significant risks.
