According to an Uphold email notification shared by Commercializing Blockchain Research Centre (CBRC) founder Antony Welfare, Uphold will no longer support USDT, GUSD, DAI, FRAX, TUSD, and USDP starting from Jul. 1. The reason cited for this change is “new European Union rules on stablecoins.” As of now, Uphold has not made any public statements on the matter. Crypto.news has reached out for comments and will update the article with any responses received.
The company has urged customers to convert their holdings in the affected stablecoins by Jun. 27. Any remaining balances in these stablecoins will be automatically converted to USDC on Jun. 28, Uphold added.
The new regulatory landscape has sparked concerns among some crypto executives.
