Crypto.com will remove Tether listing for EU users on January 31

Crypto.com plans to delist Tether’s U.S. dollar-pegged stablecoin, USDT, for European customers by January 31. This decision comes as part of their compliance with the Markets in Crypto-Assets (MiCA) Regulations, according to an email sent to users on January 28.

The email also mentioned the delisting of several other assets, including Dai, Wrapped Bitcoin (WBTC), Pax Gold, Pax Dollar, and three digital asset derivative tokens managed by Crypto.com. A company spokesperson confirmed that this change only affects EU users and encouraged them to convert their remaining assets into compliant tokens by March.

Under MiCA regulations, Crypto.com will suspend the purchase of these affected assets on January 31, 2025. Users holding these tokens must convert them to MiCA-compliant assets by March 31. If they do not, the tokens will automatically convert into a compliant stablecoin or an asset of equal market value.

This move follows Crypto.com’s recent acquisition of a MiCA license in Malta, allowing it to offer crypto services across the EU under the new regulatory framework.

Tether’s future in the European market faces uncertainty due to MiCA’s stricter standards for stablecoins and crypto services. However, Tether’s issuer remains confident in meeting MiCA requirements. In December, Tether announced an investment in the European firm StablR to strengthen its euro-pegged stablecoin offerings.