OKX, which is one of the biggest crypto exchanges in the world will be removing all its Tether pairs available for European Union customers. The OKX exchange for EU customers is registered in Malta, indicating that Malta is moving towards compliance towards the EU’s new regulations with regard to EU Directive of The Markets in Crypto-Assets Regulation (MiCA).
Tether is non-compliant in the EU for many reasons including large trading volumes, and the opacity of its operations. The intention of the European legislator was to ensure that no company holds a monopoly over stablecoins in the crypto markets given that such a monopoly would be strategically significant. Not to mention Tether’s current issues with US law enforcement authorities.
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