Kraken considers dropping USDT in Europe ahead of new regulations

[peter0425]

I don't know that Kraken is an exchange I just make small research about it and I see that you can buy/sell cryptocurrencies there.

Well that is exactly what an exchange is.

But I don't know if my country currency is listed there trading. And the website looks like decentralized exchange.

What do you mean? Kraken is a centralized exchange and if you look at their website, they will ask you to sign up and there’s the whole KYC process. Which should have told you enough that it is indeed centralized.

And I was trying to register for the app but it only loading for the country page. I will check it out later when works. Since Nigeria is part of the country listed in the registration process then I believe it will be in the p2p trading too.

If your country is included in the choices to register in the platform then maybe the concern is on your side. Maybe low internet connection? Or the device is just loading a lot.

[jrrsparkles]

They might launch their CBDCs in the next year, that's why the government are trying to limit and putting pressure to people who're using stablecoins. CBDC's main opponent isn't Bitcoin, but stablecoins, both of them offer the same purpose.

Be careful, if the government publicly announce they restrict or completely ban stablecoins, I expect every stablecoins would be de-pegged since people are scared and they will convert/cash out their stablecoins.

CBDCs are not really a negative thing for fiat because it's pegged by the fiat value unless the government is trying to bring in their own CBDC as you said. Especially after seeing these kind of restrictions which is a red flag for people who hold their crypto in the form of stable coins because all it will take just a day to pop because it's obvious that tether is printing tokens out of thin air so if everyone decides to cashout on the same day I bet they would stall their network and announce their bankruptcy.

[Mate2237]

Snip

I finally downloaded the app because I was looking for a good centralized exchanges to trade because of the exchanges in the country has stopped or delisted the country p2p from their platforms base on the government directive. And when I download the Kraken exchange app from play store, I registered it and everything went well except the verification process. I was having issues with that stage and I left it for another day to complete that stage.or level, but when I checked it today. It logged me out and I tried to login again but incorrect password.

So I got angry and delete the app from the device.

[DeathAngel]

I hope that doesn’t happen, I use USDT quite regularly. EU regulations are BS, they are so fearful of cryptocurrency it’s embarrassing. It says a lot about the EU & their pathetic €. They clearly have no confidence in their currency, you can sense the fear by their actions.