Crypto.com to Delist USDT and Nine Other Tokens in Europe on January 31, Aligning with MiCA Regulations
Users have until March 31 to convert assets before full delisting.
Cryptocurrency exchange Crypto.com has announced that it will delist Tether (USDT) and nine other tokens for European users starting January 31, 2025, in compliance with the Markets in Crypto-Assets Regulation (MiCA) framework. The move aligns with new European regulatory requirements, which mandate restrictions on non-MiCA-compliant stablecoins.
Following the delisting announcement, purchases of USDT and affected tokens will be disabled on the platform. However, withdrawals will remain available until March 31, 2025. After this deadline, users who fail to convert their holdings will have their assets automatically swapped into a MiCA-compliant stablecoin or another asset of equivalent market value.
Tokens Affected by Crypto.com’s MiCA Compliance Move
Alongside USDT, Crypto.com’s delisting covers the following tokens:
- 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)
The announcement was confirmed through an official email notice from Crypto.com on January 28, notifying users of the delisting timeline.
MiCA’s Impact on Stablecoins: More USDT Delistings Expected
The decision follows recent guidance from the European Securities and Markets Authority (ESMA), which instructed crypto asset service providers (CASPs) in the EU to restrict the use of non-MiCA-compliant stablecoins by January 31. The regulatory framework, which came into full effect on December 30, 2024, aims to introduce clear legal standards for digital assets while enhancing consumer protection.
The crackdown on USDT in Europe first gained traction in October 2024, when Coinbase announced that it would delist Tether, citing non-compliance with MiCA. The exchange officially removed USDT from its European platform in December 2024, offering customers the option to convert their holdings into MiCA-approved stablecoins, including Circle’s USDC.
As a result, multiple European exchanges are now expected to follow suit by removing USDT and other non-compliant tokens in the coming months. Crypto.com itself is actively pursuing MiCA licensing in Malta to ensure full regulatory compliance.
MiCA and the Future of Stablecoins in the EU
MiCA’s regulatory framework classifies stablecoins like USDT and DAI as “significant tokens”, requiring issuers to obtain specific licenses and approvals before offering services in the European Union. Circle’s USDC, the second-largest stablecoin with a market cap of $52 billion, received MiCA approval in July 2024, making it a key alternative for EU traders.
With USDT’s market dominance at $139 billion, its potential phase-out in Europe raises questions about liquidity and trading options for EU users. As regulators tighten enforcement, the stablecoin market in the region may see a stronger shift toward MiCA-approved assets like USDC and euro-denominated stablecoins.
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