MiCA compliance decisions

On June 30, 2024 (UTC+3), regulatory changes for stablecoins came into effect across the European Economic Area (EEA) under the Markets in Crypto-Assets (MiCA) regulation. Stablecoins are now regulated in the EEA with few exceptions. Several stablecoins referred to as “Unauthorized Stablecoins”, like USDT, may not be regulated and thus subject to certain limitations.

To comply with MiCA and to ensure a smooth transition, Raison has implemented some measures. Raison restricted the availability of Unauthorized Stablecoins for users across its product offerings, starting from 2024-06-30 (UTC+3). Please note that Raison will not delist any stablecoins until further notice and they will remain available on platform with some limitations:

• USDT and DAI (Unauthorized Stablecoins) will be maintained in a “sell-only” mode. This means in practice that users will be able to sell Unauthorized Stablecoins for fiat currencies. This will allow users to easily switch to Regulated Stablecoins. Buying Unauthorized Stablecoins with Raison is not possible from 2024-06-30 (UTC+3).

• Custody and wallet services of Unauthorized Stablecoins will continue. Users will be able to withdraw or deposit stablecoins from or to their Raison wallet.

Disclaimer: “The use of the trademark is for informational purposes only and does not imply endorsement or affiliation. Additionally, the information in this communication is for informational purposes only and is neither an offer to purchase, nor a solicitation of an offer to sell, subscribe for or buy any securities.”