Crypto.com Moves to Delist USDT by Jan. 31 to Align with MiCA Regulations
Crypto.com is set to remove Tether’s USDT stablecoin from its platform by Jan. 31 as it works to comply with Europe’s Markets in Crypto-Assets (MiCA) regulation. The exchange has informed users via email that nine other tokens, including Wrapped Bitcoin (WBTC), DAI, and PayPal USD (PYUSD), will also be delisted.
After the deadline, users will have until March 31 to withdraw these assets. Any unclaimed tokens beyond this date will be automatically converted into a MiCA-compliant stablecoin or an equivalent asset, ensuring continued compliance with European regulations.
MiCA’s Impact on Stablecoins
MiCA introduces strict financial and transparency standards for stablecoins in the European Economic Area (EEA). The regulation enforces reserve requirements that have put pressure on USDT, the world’s largest stablecoin.
Tether’s CEO Paolo Ardoino has cautioned that these new rules could introduce systemic risks for both traditional banking and the digital asset space. However, Tether is actively investing in euro-backed stablecoin projects such as Quantoz and StablR to align with evolving European regulations.
Crypto.com’s Regulatory Milestone
Crypto.com’s decision follows its recent milestone in securing regulatory approval under MiCA. On Jan. 27, the exchange announced it had obtained full authorization from the Malta Financial Services Authority (MFSA), positioning it among the first exchanges to operate legally across the EEA under the new framework.
With this approval, Crypto.com strengthens its commitment to regulatory transparency and compliance, ensuring a structured and legally sound environment for European crypto users. As the region tightens oversight, the move signals a shift towards a more regulated digital asset ecosystem.