Uphold: Will terminate support for stablecoins such as USDT and DAI before the European crypto regulation MiCA comes into effect

ChainCatcher news, according to Crypto Briefing, the New York cryptocurrency exchange Uphold announced that due to the upcoming implementation of the Markets in Crypto-Assets (MiCA) regulation in the European Economic Area (EEA) on June 30, the platform will stop supporting multiple stablecoins starting July 1.

The affected stablecoins reportedly include Tether (USDT), Dai (DAI), Frax Protocol (FRAX), Gemini Dollar (GUSD), Pax Dollar (USDP), and TrueUSD (TUSD). Uphold advises users to convert their relevant stablecoins before June 27 to avoid automatic conversion to USDC on June 28.