Bitstamp has made a series of updates to its platform to comply with the regulation on markets in crypto assets (MiCA). This will come into effect in the European Union on June 30. Before this deadline, the euro-denominated stablecoin EURT will be removed from the list of offered currencies.
However, the electronic money tokens (EMT) not denominated in euros, currently available on the platform but not covered by the MiCA regulation, will not be delisted.
These EMT will continue to be available, but access for European customers will be limited to certain products. Bitstamp has clarified that it will not add new EMT that do not meet MiCA requirements and will not engage in their promotion.
Officials from Bitstamp said we welcome the implementation of MiCA, which will standardise the regulation of cryptocurrencies across the European Union. As a long-standing cryptocurrency exchange, they have supported proportionate regulation that protects consumers while allowing the continued evolution of cryptocurrencies as an asset class. They are communicating directly with the small portion of their customers whose mix of assets are affected.
Bitstamp has previously listed BONK, a Solana-based meme coin, with trading pairs BONK/USD and BONK/EUR available globally, excluding the US and Singapore. The decision reflects the growing interest in meme coins and the importance of diversifying offerings to attract a wider range of investors.
At the beginning of June 2024, Robinhood has entered an agreement to acquire Bitstamp for USD 200 million in cash to boost its worldwide crypto expansion. This acquisition marks Robinhood's entry into institutional business, leveraging Bitstamp's reputation for reliable trade execution and strong API connectivity.
Bitstamp's offerings, including white label solutions, institutional lending, and staking, will enhance Robinhood's crypto services. Its 50+ global licenses and established customer base across the EU, UK, US, and Asia will further Robinhood's reach. The deal, pending regulatory approval, is expected to close in the first half of 2025.
Every day we send out a free e-mail with the most important headlines of the last 24 hours.
Subscribe now