What changes are taking place?

We are making changes to ensure we are compliant with the MiCAR - Markets in Crypto-Assets Regulation (MiCA) institutes uniform EU market rules for crypto-assets. To comply with the new regulations Telcoin can only offer compliant stablecoins to its customers serviced from our Telcoin Europe entity.

What is a non-compliant stablecoin?

A non-compliant MiCAR stablecoin refers to a stablecoin that does not meet the regulatory requirements outlined in the Markets in Crypto-Assets (MiCA) Regulation, which is a comprehensive legal framework introduced by the European Union (EU) to regulate cryptocurrency and stablecoin activities across its member states.

A non-compliant MiCAR stablecoin might be one that:

• Is not registered with the EU's regulatory authorities.
• Lacks a transparent or regularly audited reserve backing.
• Does not provide a clear process for redemption or is difficult to exchange for fiat currency.
• Does not comply with the AML/CTF regulations required for crypto assets under MiCAR.

Who is impacted by the changes?

All customers who receive services from Telcoin Europe. This includes customers outside Europe. Customers who are resident in the United States will not be impacted. If you are affected by these changes you will have received an email.

Which tokens are impacted?

The following tokens will no longer be available:

What is the timeline for the changes?

The following changes will take place for the affected customers:

1. Currently you will be able to Swap out of stablecoins.
2. On 31 March 2025 you will no longer see your non-compliant stablecoins on your account and no services will be available.
3. If you have any non-compliant stablecoins or receive some after 31 March you will need to contact our Support Team.

Please ensure you take action before 31 March 2025.