OKX is shutting down USDT pairs in the EU but has not yet listed the Solana meme coin.
OKX has decided to discontinue Tether’s USDT trading pair within the EEA in line with the EU’s upcoming MiCA regulations.
The EU’s Markets in Cryptocurrencies (MiCA) Regulations introduce several restrictions and obligations specifically targeting stablecoins and broader cryptocurrency service providers.
The regulations do not specifically ban Tether (USDT), but impose strict requirements on stablecoin issuers, especially those deemed significant due to their size, user base, or market impact. This is why market leaders like OKX are removing USDT trading pairs from their platforms. .
This strategic withdrawal comes ahead of the EU implementation of the Markets in Cryptocurrency Assets (MiCA) regulation, which is scheduled to be fully implemented by December 30 this year. OKX customer support revealed this to several users earlier today. However, USDT trading pairs will still be displayed on the platform.
Moreover, OKX, recognized as the second largest offshore exchange, has been noticeably refraining from listing Solana-based meme tokens recently. This took the cryptocurrency community by surprise, considering the recent popularity of meme coins like Bonk and Dogwifhat.
Several users have consistently urged the platform to list these popular tokens. however name Today, OKX CEO Star Xu emphasized that the platform will always prioritize tokens with proven utility and potential for early-stage investments. Xu also addressed the community’s efforts to influence the list through social media, saying such actions would not influence the committee’s decisions and called for an end to the practice.
Xu’s response was a surprising strategy for the exchange, considering that major competitors like Binance are active in listing trending meme coins very early. The latest Solana meme coins, including BONK and WIF, are up over 3,000% since launch. Not listing it means OKX has decided not to profit from the biggest trading activity in the current bull market.