Global cryptocurrency exchange Bitstamp has made changes to its platform to adapt to the MiCA regulation, which comes into effect in the European Union on June 30, 2024.
Bitstamp has made a series of updates to its platform to comply with the Markets in Crypto-Assets Regulation (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 currencies offered.
However, non-euro-denominated electronic money tokens (EMT), which are currently available on the platform but not covered by MiCA regulation, will not be delisted.
These EMTs will remain available, but access for European customers will be limited to certain products. Bitstamp has made it clear that it will not add new EMTs that do not meet MiCA requirements and will not participate in their promotion.
Bitstamp officials said they welcome the implementation of MiCA, which will unify crypto regulation across the EU. As a long-established crypto exchange, they have supported proportionate regulation that protects consumers while allowing crypto to continue to evolve as an asset class. They are communicating directly with the small portion of their customers whose asset mix has been affected.
Previous news from Bitstamp
Bitstamp previously listed BONK, a Solana-based meme coin, with BONK/USD and BONK/EUR trading pairs available globally, excluding the US and Singapore. The decision reflects the growing interest in meme coins and the importance of diversifying offerings to appeal to a wider range of investors.
potential acquisition
In early June 2024, Robinhood entered into an agreement to acquire Bitstamp for $200 million in cash to further its global crypto expansion. The acquisition marks Robinhood’s entry into the institutional business, leveraging Bitstamp’s reputation for reliable trading execution and robust API connectivity.
Bitstamp’s offerings, including white label solutions, institutional lending, and custody, will enhance Robinhood’s crypto offering. Its 50+ global licenses and established customer base across the EU, UK, US, and Asia will further enhance Robinhood’s scale. The deal, which is subject to regulatory approval, is expected to close in the first half of 2025.