Crypto.com Delists Tether (USDT) in Europe, Citing MiCA Regulatory Compliance

After securing a Markets in Crypto-Assets license, Crypto.com will become the second major digital asset exchange to discontinue trading support for Tether's stablecoin in Europe.

Crypto.com, a major digital asset exchange, has announced plans to discontinue trading support for Tether’s (USDT) stablecoin in Europe.

The move comes as part of the exchange’s efforts to comply with Markets in Crypto-Assets (MiCA) Regulations, according to an email sent to users on Jan. 28 and seen by crypto.news.

Crypto.com will also be delisting several other assets, including Dai (DAI), Wrapped Bitcoin (WBTC), Pax Gold, Pax Dollar, and three digital asset derivative tokens operated by Crypto.com.

The decision will only affect EU users, a spokesperson said in a statement to crypto.news, adding that customers are advised to convert outstanding assets to compliant tokens by March.

“In line with MiCA regulatory requirements, we will suspend the purchase of affected assets on the 31st January, 2025.

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.”

Crypto.com representative

Once effective, Crypto.com will follow Coinbase as the second major crypto exchange to delist USDT in Europe.

Coinbase ended support for the stablecoin late last year, citing noncompliance with MiCA’s framework.

Crypto.com’s decision comes shortly after the company secured a MiCA license in Malta, allowing it to operate crypto-related services across the EU under the regulatory framework.

Tether’s future in the European market has faced increased uncertainty since MiCA introduced stricter standards for stablecoins and crypto services across the continent.

However, the fate of USDT — the world’s largest stablecoin with a market cap of $138 billion — in the EU remains unclear.

Platforms like Coinbase could face further regulatory pressure to delist USDT in other regions, including the U.S., if compliance concerns persist. It’s worth noting that USDT’s primary adoption is concentrated in emerging markets outside the U.S. and Europe.