Other exchanges, like Kraken, followed a similar path. Kraken restricted USDT to sell-only mode in the EEA on March 24, halting purchases entirely. The European Securities and Markets Authority (ESMA) allows the holding of non-compliant tokens under MiCA however it prohibits their trading after March 31. The combination of European regulatory requirements with user flexibility generates a dual framework which guides how Europeans conduct activities with stablecoins.
