Crypto.com will be delisting Tether’s USDT stablecoin by Jan. 31 as part of efforts to comply with Europe’s Markets in Crypto-Assets (MiCA) regulation, according to emails obtained by CryptoSlate.
The exchange will also remove nine other tokens, including Wrapped Bitcoin (WBTC), DAI, Pax Dollar (USDP), PayPal USD (PYUSD), Crypto.com’s Staked ETH (stETH), Staked SOL (stSOL), Liquid Cronos (LCRO), and XSGD.
After the Jan. 31 deadline, users will have until March 31 to withdraw these assets. Crypto.com stated that any remaining tokens beyond this date would be automatically converted to a MiCA-compliant stablecoin or another asset of equivalent market value.
MiCA and USDT
MiCA introduces strict regulatory standards for crypto businesses operating within the European Economic Area (EEA).
The regulation enforces strict reserve requirements for stablecoins, ensuring greater financial transparency and consumer protection. This requirement has posed significant challenges for USDT, the largest stablecoin by market capitalization.
Tether’s CEO Paolo Ardoino warned that these requirements could create systemic risks for both the banking sector and digital assets.
Despite these hurdles, Tether is actively investing in projects that align with European regulations. The company has backed Quantoz and StablR—two firms focused on euro-based stablecoins designed for full regulatory compliance.
Crypto.com’s MiCA licensing
Crypto.com’s decision to delist USDT follows its recent approval under MiCA.
On Jan. 27, the company announced that it had secured full regulatory approval from the Malta Financial Services Authority (MFSA), making it one of the first crypto exchanges authorized to operate across the EEA under the new framework.
This approval allows Crypto.com to provide regulated crypto services throughout Europe, ensuring greater transparency and legal certainty for its users.
The move also reinforces the exchange’s commitment to operating within a structured regulatory environment as the region tightens oversight on digital assets.
Mentioned in this article
