Crypto.com Will Delist USDT Stablecoin
29 Jan, 2025 ● Coin news
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Crypto.com has become one of the first cryptocurrency exchanges to announce the delisting of Tether’s USDT and nine other tokens in Europe, following the enforcement of the Markets in Crypto-Assets Regulation (MiCA) framework.
A spokesperson for the exchange confirmed to Cointelegraph on Jan. 29 that Crypto.com will halt purchases of Tether USDT and nine additional tokens in compliance with MiCA regulations starting Jan. 31.
While deposits for these tokens will be disabled, users will still be able to withdraw them until the end of the first quarter of 2025. The exchange plans to fully delist them by March 31.
“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,” stated a representative from Crypto.com.
Reports from social media, referencing an email notice sent by Crypto.com on Jan. 28, indicate that the exchange will remove a total of 10 cryptocurrencies due to MiCA-related requirements.
Besides USDT, the delisted tokens will include Dai, Wrapped Bitcoin, Pax Dollar (PAX), Pax Gold (PAXG), PayPal USD, Crypto.com Staked ETH (CDCETH), Crypto.com Staked SOL (CDCSOL), Liquid CRO (LCRO), and XSGD (XSGD).
The decision aligns with a recent statement from the European Securities and Markets Authority (ESMA), which instructed European crypto asset service providers (CASPs) to restrict stablecoins that do not comply with MiCA starting Jan. 31.
The removal of USDT in the European Union has been widely discussed within the crypto community, particularly after Coinbase classified it as a noncompliant stablecoin under MiCA and announced its delisting in October 2024.
Following its removal in mid-December 2025, Coinbase Europe provided users with the option to convert their USDT holdings into MiCA-compliant alternatives, including Circle’s USDC.
Although MiCA regulations were fully implemented on Dec. 30, many CASPs in the EU continued facilitating USDT trading even after Coinbase delisted it.
Since the enforcement of MiCA, several CASPs in Europe have successfully obtained MiCA licenses, while others—such as Crypto.com—are still in the process of securing one in Malta.
Juan Ignacio Ibañez, a member of the Technical Committee of the MiCA Crypto Alliance, correctly interpreted ESMA’s directive from Jan. 17, which called on EU CASPs to restrict tokens that do not meet MiCA’s requirements.
“No trace of USDT should remain, not even in ‘sell-only’ mode,” by March 31, Ibañez emphasized.
USDT remains the largest stablecoin in the market, with a market capitalization of $139 billion at the time of writing, based on data from CoinGecko.
Its main competitor, USDC, received approval as a MiCA-compliant stablecoin in July 2024 and currently holds a market capitalization of $52 billion.
Sources:
https://cointelegraph.com/news/crypto-com-delist-usdt-europe-mica-compliance