Crypto.com, one of the leading crypto exchanges, has announced it will delist Tether (USDT) and nine other tokens across its European operations starting January 31, 2025, in response to the EU’s Markets in Crypto-Assets (MiCA) regulations. This move signals a growing regulatory push to phase out non-compliant stablecoins ahead of the March 31, 2025, enforcement deadline.
Key Points:
- MiCA Compliance: Crypto.com is removing USDT, WBTC, DAI, PAX, PAXG, PYUSD, CDCETH, CDCSOL, LCRO, and XSGD to align with EU rules.
- Timeline: Deposits for affected tokens end on January 31, 2025; withdrawals remain available until March 31, 2025. After that, any remaining balances will be converted into a MiCA-compliant stablecoin or an equivalent asset.
- Regulatory Pressure: The European Securities and Markets Authority (ESMA) is ramping up enforcement, targeting non-compliant stablecoins ahead of MiCA’s full rollout.
- Industry Trend: Coinbase was the first major exchange to delist USDT in Europe in October 2024, with more platforms expected to follow.
Short Narrative:
The EU’s MiCA regulation is reshaping the stablecoin landscape, forcing major exchanges like Crypto.com and Coinbase to remove non-compliant assets like USDT from their platforms. This shift underscores the tightening grip of European regulators, as stablecoins face new issuance and compliance requirements under MiCA.
With March 31, 2025, set as the enforcement deadline, exchanges are scrambling to comply to avoid penalties. Crypto.com users in Europe must withdraw affected tokens before this date or risk forced conversion into a MiCA-approved asset.
Expect further de-risking moves from other exchanges as the EU solidifies its stance against unregulated stablecoins. The question remains: How will Tether respond to the EU’s crackdown?
Actionable Insight:
The European crypto market is evolving fast—investors and traders must monitor delistings and regulatory updates to avoid disruptions. Exchanges will likely shift liquidity toward MiCA-approved stablecoins, reshaping the stablecoin dominance in the region.
Call for Information:
Do you have insights into how MiCA regulations will impact stablecoins and the broader crypto industry? Share your information anonymously via Whistle42.com and help uncover the regulatory shifts shaping crypto’s future!
