As of January 31, digital asset exchanges Bitstamp and Crypto.com will be suspending specific token services that are deemed non-compliant with the European Union's Markets in Crypto Assets (MiCA) legislation. This move affects stablecoins such as Tether's USDt and Paypal's PYUSD, which will no longer be tradable on Bitstamp's platforms but will still be permitted for custody. Similarly, Crypto.com will cease offering services for stablecoins like Tether USDT, Paypal USD, and Pax dollar, in addition to Crypto.com Staked ETH and Crypto.com Staked SOL. The decision is in response to the EU's bespoke rules for crypto assets, which mandate that stablecoin issuers and staking service providers obtain necessary authorization to serve European clients.
These regulations apply to all 30 nations within the European Economic Area. A Crypto.com spokesperson stated, 'In line with MiCA's regulatory requirements, we will suspend the purchase of affected assets on January 31, 2025.' Recently, EU regulators issued a notice urging exchanges to comply with stablecoin rules under MiCA within the next two months, prompting Crypto.com to delist certain assets classified as Liquid Staked Tokens (LST) that may qualify as Asset Reference Tokens (ART) under MiCA definitions.