Crypto.com to delist USDT in Europe on 31 January
Crypto.com delists USDT and nine other tokens in Europe to comply with MiCA.
Crypto.com has announced the delisting of Tether’s USDT and nine other cryptocurrencies in Europe as it moves to comply with the Markets in Crypto-Assets Regulation (MiCA) framework.
The exchange will suspend purchases of the affected tokens on Jan. 31, 2025, and will allow withdrawals until March 31, after which full delisting will take place, reports Cointelegraph.
In a statement to Cointelegraph, a Crypto.com spokesperson confirmed that users who fail to convert their holdings by the deadline will see their assets automatically converted to a MiCA-compliant stablecoin or asset of equivalent market value.
Wrapped Bitcoin, Dai, and PayPal USD Among Delisted Tokens
Alongside Tether (USDT), Crypto.com will also remove:
- Wrapped Bitcoin (WBTC)- Dai (DAI)- Pax Dollar (PAX)- Pax Gold (PAXG)- PayPal USD (PYUSD)- Crypto.com Staked ETH (CDCETH)- Crypto.com Staked SOL (CDCSOL)- Liquid CRO (LCRO)- XSGD (XSGD)
This decision follows guidance from the European Securities and Markets Authority (ESMA), which requires crypto asset service providers (CASPs) to restrict non-MiCA-compliant stablecoins starting Jan. 31.
Growing Impact of MiCA Regulations on the Crypto Industry
The MiCA regulatory framework, designed to bring uniform rules for digital assets across the European Union, has forced exchanges and service providers to delist or modify offerings to meet compliance standards.
Crypto.com’s move is one of the first major actions taken under the new framework, signaling further potential changes across the industry as European regulators tighten oversight of stablecoins and other digital assets.
With Tether being the largest stablecoin by market capitalization, its delisting in Europe marks a significant shift for the region’s crypto market. Other exchanges and platforms are expected to follow suit in the coming weeks.
Recently we wrote, that Circle minted over $5 billion USDC on the Solana blockchain in just one week, pushing its marketcap to $52 billion.
