Crypto Exchange Uphold Ceases Support for Multiple Stablecoins Ahead of MiCA Regulations
Uphold will cease support for several stablecoins ahead of the upcoming Markets in Crypto-Assets (MiCA) regulation governing crypto in Europe.
Antony Welfare, a CBDC advisor at Ripple, shared a notice Tuesday showing Uphold will no longer support stablecoins like DAI, FRAX, GUSD, USDP, TUSD, and USDT. Instead, Uphold will continue to support USDC, EURC, and PYUSD, according to the notice.
Further, the exchange urged users to convert their holdings to USDC by June 27th. If they don’t take action, the exchange will automatically convert everything to USDC on June 28th.
Uphold didn’t return Cryptonews’ request for comment by press time.
#Mica #stablecoin regulations mean not all $USD stablecoins are treated equally .. interesting to see which are ok
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