Crypto.com to Delist Tether’s USDT in Europe Following MiCA Compliance

Crypto.com is set to remove Tether’s USDT stablecoin from its European platform by January 31, 2025, aligning with Markets in Crypto-Assets (MiCA) regulations. The move follows a trend of exchanges adjusting their listings to comply with the European Union’s evolving crypto framework.

USDT and Other Tokens Set for Delisting

An email sent to users on January 28 revealed that Crypto.com will discontinue USDT trading support in the region, making it the second major exchange after Coinbase to do so. Alongside Tether, the company will also delist multiple assets, including Dai (DAI), Wrapped Bitcoin (WBTC), Pax Gold (PAXG), and Pax Dollar (USDP).

A Crypto.com spokesperson clarified that the decision only affects EU customers. They advised users to convert their holdings to compliant tokens by March 31, adding, “Users holding these tokens will have until the end of Q1, 31st of March, to convert them to MiCA-compliant assets, otherwise they will be automatically converted to a compliant stablecoin or asset of corresponding market value.”

The MiCA framework, introduced to regulate stablecoins and crypto services in the EU, has placed Tether’s future in Europe under scrutiny. While Tether’s issuer remains confident about meeting compliance requirements, the stablecoin’s standing remains uncertain.

Despite the delisting, USDT remains dominant in global crypto markets, particularly in emerging economies outside the U.S. and Europe. However, regulatory concerns could lead to further delistings on other platforms, including in the U.S.

With its MiCA license secured in Malta, Crypto.com is ensuring compliance while maintaining its presence in the European market. Meanwhile, Tether’s response and future adaptations to MiCA will be closely watched as regulatory pressures continue to reshape the industry.