Kraken delist stablecoin offerings for EEA clients

[eenzoo]

What a mess again. My modus operandi was: Receive commission in USDT -> selling USDT for EUR -> withdraw to an IBAN account ...
All was super compfi, as Kraken was whitelisted at my bank. Never any kind of problems ...

Yesterday, email from Kraken:

In our fast-moving regulatory landscape, we continuously assess the impact of regulatory changes, and their consequences for specific products and services we offer.

After careful consideration, we’ve made the tough decision to move ahead with delisting USDT, EURT, PYUSD, UST and TUSD for clients in the EEA. While these changes weren’t needed until this point, recently updated guidance from European regulators led us to the decision to delist these assets to ensure our clients have enough time to take necessary action.


You are receiving this update because you hold, or have recently transacted with, one of these impacted assets.


What’s changing?


To ensure Kraken remains compliant and can continue to provide an exceptional experience to European clients in the long term, we will change our stablecoin offering for clients in the European Economic Area (EEA).


By March 31, 2025, we will fully delist the following stablecoins for clients in the EEA:
USDT
PYSUD
EURT
TUSD
UST

Alternatives? Receiving USDT as usual, convert them into BTC elsewhere, transfering BTC into Kraken, selling and withdraw as usual.
Extra fees occuring ofc, runing into the BTC volatility problem again ...

[PaulEchere]

I don't use Kraken myself, but do they perhaps still support USDC. Not all aff programs would go through the hassle of using a different currently just for one affiliate, but a good aff manager would probably do it.

Alternatively, like you said, you can receive USDT elsewhere and then exchange it to something else to have it transferred to Kraken. I'd probably go for Solana or Tron as the transfers are almost instant and fees are very small.

[Sherlock]

I just spoke to them few days ago about lending them USDT, but they delist because of MiCA, even when I am not EU slave. And USDT=bitfinex, so they support their competitor with USDT.
USDC is the way, they focus on it from now on. You can get USDT/USDC pair at some exchanges or OTC it at Bitfinex for example.
Actually this is extra layer of protection/obfuscation, which is good. No one wants to lose his Kraken account.