Coinbase will delist non-compliant stablecoins in the EU in December

ChainCatcher news, according to Bloomberg, Coinbase Global Inc. will delist all unauthorized stablecoins from its cryptocurrency exchange by the end of the year, which could pose a potential blow to tokens like Tether Holdings Ltd.'s USDT.

The European Union is expected to fully implement new regulatory rules for the crypto industry, namely the Markets in Crypto-Assets Regulation (MiCA), by the end of this year. Under MiCA, regulations for stablecoin issuers took effect on June 30, requiring them to hold an electronic money license in at least one member state. Guidance for cryptocurrency exchanges and other companies operating in the EU will take effect starting December 31.