🚨Important announcement! Closing of USDT trading in Europe.

According to MiCA regulation, European exchanges are not allowed to offer stablecoins that are not issued by licensed entities in the EU. Issuers of stablecoins had until March 2025 to apply for a license to continue their operations in the European market. Tether, the operator of USDT, has not applied for such a license in Europe and therefore the stablecoin will not be able to be legally traded on regulated European exchanges. MiCA requires stablecoins to have full backing, transparent reserve management and the ability to be instantly exchanged for fiat currency, which Tether does not currently meet.

Coingarage, as a European regulated exchange, must comply with this European legislation and fully remove USDT from its offering by the end of March. Most exchanges are approaching this change with the expectation that they will simply terminate these pairs and close all open trades. We strive to be as pro-client as possible, so we have been working on a solution that would have the least impact on our exchange users and their trades.

How will these changes affect trading on Coingarage and what are the implications of the change for our users?

On March 31, 2025 at 4:00 pm, all USDT held on the exchange will be automatically converted to USDC. If you want to avoid this conversion and keep your USDT, you need to transfer them to your wallet or to an exchange outside the EU.

Pairs with USDT
Most pairs with USDT will be automatically converted to pairs with USDC. This conversion also applies to open trades on USDT pairs on EEZY Trader. Your trading will therefore continue with only a small interruption on 1.4.2025 when this change occurs in the morning.

The following cryptocurrencies will not be replaced by a pair with USDC, but will be replaced by a pair with BTC for spot trading during the week, but not for EEZY Trader. You can exit open trades on these pairs until March 29 at 24:00 to get USDT, which will then be automatically converted to USDC. If you are currently at a loss on these pairs and want to keep the coins until the market eventually turns and you can realize a profit, do nothing. Trades on EEZY Trader will automatically close on March 30 and the cryptocurrency you purchased (listed first in the pair) will remain in your account and you can transfer it elsewhere or wait until you can realize a profit using the new pair of cryptocurrency you purchased with BTC.

1INCH_USDT

AEVO_USDT

AGLD_USDT

CYBER_USDT

ELF_USDT

ENJ_USDT

ETC_USDT

GRT_USDT

CHR_USDT

IMX_USDT

IOTX_USDT

LOKA_USDT

QNT_USDT

STORJ_USDT

SUSHI_USDT

VET_USDT

WOO_USDT

ZEC_USDT

ZRX_USDT

The following pairs will be fully closed and cannot be replaced by another pair at this time due to the lack of liquidity on this pair for European clients. Unfortunately, these cryptocurrencies will no longer be able to trade with us for the time being. You can exit open trades on these pairs until March 29 at 24:00 to get USDT, which will then be automatically converted to USDC. If you are currently at a loss on these pairs and want to keep the coins until the market turns and you can realize a profit, again no action is required. EEZY Trader's trades will automatically close on March 30th and the cryptocurrency purchased (listed first in the pair) will remain in your account and you can then transfer it elsewhere or wait until the pair is replenished on Coingarage depending on the liquidity providers.

BTT_USDT

FUN_USDT

FXS_USDT

JASMY_USDT

SLP_USDT

VIB_USDT

VOXEL_USDT

All changes apply to both spot trading and trading on EEZY Trader. We thank all our users for their understanding and if you have any questions, please contact our support at support@coingarage.io. We are here to help you ride the waves of this change together as smoothly as possible.

The Coingarage team