Impending Enforcement of EU Encryption Legislation MiCA and Potential Delisting of USDT by Kraken?

This move is in response to the stablecoin regulations in the regulatory framework of the Markets in Crypto-Assets Regulation (MiCA). The regulations stipulate that only Electronic Money Institutions (EMIs) and Credit Institutions are allowed to issue stablecoins. According to previous reports, the law is expected to take effect before the end of this year, while the stablecoin regulations are expected to be implemented by June.