Key Takeaways:
- Crypto.com delisting USDT: The exchange will remove USDT and nine other tokens in Europe on Jan. 31 to comply with MiCA regulations, with full delisting by March 31.
- Affected tokens: The list includes Wrapped Bitcoin (WBTC), Dai (DAI), PayPal USD (PYUSD), and Pax Gold (PAXG), among others.
- Regulatory push: The move aligns with ESMA’s directive that no non-MiCA-compliant stablecoins should remain on European platforms by March 31.
Crypto.com is set to delist Tether’s USDT and nine other tokens in Europe on January 31 to comply with the European Union’s Markets in Crypto-Assets (MiCA) regulations.
The exchange will suspend purchases and deposits of these tokens but will allow withdrawals until the end of Q1 2025, with full delisting scheduled for March 31.
BREAKING: 🚨 https://t.co/FZnzl48reI, one of the world’s largest cryptocurrency exchanges, has announced it will delist Tether (USDT) on January 31, 2025.
— EDO FARINA đź…§ XRP (@edward_farina) January 28, 2025
The clock is ticking… ⏳💥 💣 pic.twitter.com/E964Vnf6TW
Users must convert the affected assets into MiCA-compliant alternatives by the deadline, or they will be automatically exchanged for an approved stablecoin or asset of equivalent market value.
The delisting aligns with recent guidance from the European Securities and Markets Authority (ESMA), which mandates that crypto service providers in the EU restrict non-MiCA-compliant stablecoins.
The ten tokens being removed include USDT, Wrapped Bitcoin (WBTC), Dai (DAI), Pax Dollar (PAX), Pax Gold (PAXG), PayPal USD (PYUSD), and several Crypto.com staking assets.
Another one, this time @cryptocom delisting $USDT, $WBTC and others in Europe@justinsuntron @paoloardoino pls fix pic.twitter.com/cSJGm6Ax2h
— Wazz (@WazzCrypto) January 28, 2025
This move follows a broader trend in Europe, where Coinbase delisted USDT in late 2024.
MiCA regulations, effective since December 30, require strict compliance, with experts stating that non-compliant stablecoins must be fully phased out by March 31.
Despite these restrictions, USDT remains the world’s largest stablecoin with a market cap of $139 billion.