In a latest announcement by crypto.com it has shared that the platform will delist Tether's USDT and nine other tokens for European users effective January 31, 2025. This decision is a direct response to new Markets in Crypto Assets (MiCA) regulations implemented by the EU.
These tokens will no longer be available for purchase on the Crypto.com platform as of January 31. They will, however, have until March 31, 2025, to convert or sell their assets.
Any remaining non-compliant tokens will be immediately changed to stablecoins with an equivalent market value or MiCA-compliant assets after this date.
This move comes after other exchanges, like Coinbase, took similar steps and ceased supporting USDT under the same regulatory framework.
The MiCA regulations aim to improve consumer safety and ensure that crypto assets are issued by recognized entities within the European Union.
Within the European Union, the future of Tether remains uncertain as it is not recognized as an authorized e-money issuer under the new regulations. While Tether has expressed intentions to adapt, it has yet to take steps towards compliance with the standards of MiCA. Users can still utilize USDT and other affected tokens on non-custodial wallets and decentralized exchanges.
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