The action may foreshadow regulatory restrictions in the region for the largest stablecoin by market capitalization and trading volume, as upcoming E.U. rules will require stablecoin issuer to be licensed electronic money institutions. Crypto exchange OKX has ceased support for cryptocurrency trading pairs with Tether's USDT stablecoin for users based in the European Union and the European Economic Area (EEA), the exchange confirmed to CoinDesk. As of Monday, OKX's platform offered spot crypto trading only with USDC and euro pairs, while USDT could only be traded against USDC and euro, CoinDesk confirmed via an E.U.-based OKX account.