Coinbase Global Inc. will delist all unauthorized stablecoins from its crypto exchange in the European Economic Area by year-end, a potential blow for tokens like Tether Holdings Ltd.’s USDT.

Coinbase is preparing to delist stablecoins that do not meet the European Union’s Markets in Crypto-Assets Regulation (MiCA) requirements from its European platform by the end of December. This move is part of the exchange’s efforts to align with the new regulations, which aim to enforce stricter oversight of crypto-related businesses.

Coinbase will delist certain stablecoins in the European Economic Area by year's end, the cryptocurrency exchange said on Friday, as the industry braces for tougher regulation in the region.

Coinbase reportedly plans to cut support for certain stablecoins in the European Union (EU) by the end of the year.

A statement from publicly traded Coinbase announced that the leading exchange was delisting all unauthorized stablecoins from its EU exchange by the end of the year. Tether Holding’s USDT would be among the most affected stablecoins as MiCA preps to implement the new regulations fully.

Coinbase Global to delist unauthorized stablecoins in the EU. New regulations force crypto exchanges to comply.