Uphold to Delist Six Stablecoins for European Users to Comply with New MiCA Regulations

Cryptocurrency exchange Uphold has notified its European users that it will end support for six popular stablecoins starting July 1. This decision aligns with the European Union’s Markets in Crypto-Assets Regulation (MiCA). The six stablecoins affected are Tether (USDT), Dai (DAI), Frax Protocol (FRAX), Gemini dollar (GUSD), Pax dollar (USDP), and TrueUSD (TUSD). Users holding these stablecoins must convert them to a different cryptocurrency by June 28. After this date, Uphold will automatically convert any remaining holdings into USD Coin (USDC). MiCA, passed into law in May 2023 and partially effective since June 2023, aims to fully enforce its extensive

Source: CryptoIntelligence