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Message concerning the USDT and USDC on zondacrypto

Important message about USDT and USDC on zondacrypto exchange.

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zondacrypto Team
27 junio 2024
Message concerning the USDT and USDC on zondacrypto

Dear users,

On June 30, 2024, regulations on crypto-asset markets (MiCA) for stablecoins such as USDT or USDC come into force in the European Economic Area (EOG). As a result, the ability to issue and offer such assets in Europe will be restricted.

As a result, we will have to make some changes in the operation of certain aspects of the products we offer or in cooperation with us. Don't worry – we will keep you informed, and in most cases, you have up to 6 months to prepare for these changes.

Any stablecoin that wants to be available to users in Europe must meet certain requirements under the MiCA; otherwise, it will be considered "unregulated" from the regulation's perspective. This is in no way dependent on zonadcrypto.

Unfortunately, none of the current stablecoins on the market currently meet the requirements of the MiCA regulation. Consequently, in order to be fully compliant with the regulations, we will be making some changes to zondacrypto, zondacrypto pay and the ZND platform regarding stablecoin availability.

 

  • zondacrypto: Until the end of the transition period (until the end of the year), stablecoin payments and trading with them will be available on the exchange without changes. Any changes will be communicated on an ongoing basis.

  • zondacrypto pay: Until the end of the transition period (until the end of the year), full stablecoin service will be available without changes. Any changes will be communicated on an ongoing basis.

  • ZND: The Earn product for European Economic Area (EEA) customers will disable the ability to open new USDT and USDC subscriptions on June 29. Active subscriptions to these stablecoins will remain unchanged.

 

We are constantly monitoring developments in the situation and are in contact with stablecoin developers so that we will respond to any changes. We are also working on alternative solutions that will allow users to benefit from the stability of this class of crypto-assets and their link to fiat currency.

If you have any questions, please contact zondacrypto support ([email protected]) or ZND ([email protected]), respectively.

We remain at your service.

zondacrypto team

 

DISCLAIMER

This content does not constitute investment advice, financial advice, trading advice or any other type of advice and should not be considered as such; zondacrypto does not recommend buying, selling or owning any cryptocurrency. Investing in cryptocurrencies involves a high degree of risk. There is a risk of losing invested funds due to changes in cryptocurrency exchange rates. 

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