Crypto.com Delists Tether (USDT) and 9 Other Tokens in Europe to Comply With MiCA Regulations

The exchange is making these changes to comply with the Markets in Crypto-Assets (MiCA) regulations, which set strict rules for stablecoins in the European Union (EU).

Crypto.com will be removing Tether (USDT) and nine other cryptocurrencies from its platform in Europe on 31st January 2025. The exchange is making these changes to comply with the Markets in Crypto-Assets (MiCA) regulations, which set strict rules for stablecoins in the European Union (EU).

The company announced that after 31st January, users will not be able to purchase or deposit these tokens. However, withdrawals will be allowed until 31st March 2025. If users do not convert their holdings by then, Crypto.com will automatically swap their assets for a MiCA-compliant alternative of equal value.

Here is the list of affected cryptocurrencies:

- Tether (USDT)

- 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)

These tokens will no longer be available for trading, deposits, or purchases after the deadline.

MiCA License Is A Must To Operate In Europe

The European Securities and Markets Authority (ESMA) has mandated that all non-compliant stablecoins must be removed from trading platforms by 31st January 2025. This requirement is part of the MiCA framework, which aims to standardize cryptocurrency regulations across the EU.

USDT, despite being the largest stablecoin with a $139 billion market cap, does not meet MiCA’s standards. European regulators are pushing for exchanges to switch to approved stablecoins like USD Coin (USDC), which has been classified as MiCA-compliant since July 2024.

Crypto.com is not the first exchange to remove USDT in Europe. In October 2024, Coinbase announced its plan to delist USDT, citing MiCA compliance as the reason. The exchange completed the removal process by mid-December 2025, offering users an option to convert their USDT to USDC.

With Crypto.com now following the same path, it is likely that other exchanges will also delist USDT to avoid regulatory issues.

Crypto.com, Binance, Coinbase, Kraken, FTX, and OKX are among the exchanges that have applied for MiCA licenses. Exchanges need this license to continue operating legally in the European market.

Crypto.com and Binance are currently working to get their MiCA license in Malta.

Juan Ignacio Ibañez, a member of the MiCA Crypto Alliance, emphasized that all exchanges in Europe must fully remove USDT by 31st March 2025. He noted that “no trace of USDT should remain, not even in ‘sell-only’ mode.”

As USDT faces restrictions, stablecoins like USDC are expected to take over in the European crypto market. Currently, USDC has a market cap of $52 billion, and its adoption may increase as more platforms remove non-compliant tokens.