The cryptocurrency landscape is constantly evolving, with regulations playing an increasingly significant role. The European Markets in Crypto Assets (MiCA) legislation introduces strict rules for trading stablecoins and other digital assets. To comply with these regulations, Knaken has decided to delist USDT (Tether), XAUT (Tether Gold), DAI, and EURT (Tether Euro). In this blog, we explain why and what this means for you.
Stablecoins are now subject to stringent MiCA regulations. At this moment, no stablecoin fully meets the European requirements, which means that platforms like Knaken must adapt to ensure compliance. To maintain a regulated and secure trading environment, we have decided to gradually phase out these assets from our platform.
We understand that many users hold USDT, XAUT, DAI, and EURT in their portfolios. That’s why we are implementing a four-phase transition to give everyone enough time to take action:
📅 February 6, 2025 – Buying of USDT, XAUT, DAI, and EURT will be disabled. You will no longer be able to purchase these coins, but selling and withdrawals remain available.
📅 March 6, 2025 – Selling of USDT, XAUT, DAI, and EURT will be disabled. Only withdrawals to external wallets will be possible.
📅 Until April 7, 2025 – Final chance to withdraw these assets to your own wallet.
📅 April 8, 2025 – Complete delisting. Any remaining balances will be automatically converted to EUR.
✔ Check your portfolio and review your USDT, XAUT, DAI, and EURT balance.
✔ Take action in time by selling or withdrawing these coins before April 7.
✔ Contact our support team with any questions at [email protected].
At Knaken, we are committed to maintaining a compliant and secure platform for all our users. We will continue to evaluate stablecoins and other digital assets, exploring opportunities to offer MiCA-compliant stablecoins in the future.
🚀 Do you have any questions? Let us know!
We will keep you updated on further developments and continue to innovate to provide you with the best crypto services.
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Knaken Cryptohandel B.V. is registered with De Nederlandsche Bank N.V. (DNB) as a provider of crypto services. DNB supervises Knaken Cryptohandel B.V.'s compliance with the Money Laundering and Terrorist Financing (Prevention) Act and the Sanctions Act 1977. Knaken Cryptohandel B.V. is not subject to prudential supervision by DNB or conduct supervision by the AFM. This means that there is no supervision of financial requirements or business risks and there is no specific financial consumer protection.
Investing in crypto-related products involves significant risks.
