Crypto.com is pulling the plug on Tether’s USDT and nine other tokens in Europe, making it one of the first major exchanges to enforce the European Union’s Markets in Crypto-Assets (MiCA) regulations. Starting Jan. 31, the exchange will block new purchases of USDT (USDT-USD), Wrapped Bitcoin (WBTC-USD), Dai (DAI-USD), and other stablecoins deemed noncompliant under the new framework, according to Cointelegraph.
Invest with Confidence:
- Follow TipRanks' Top Wall Street Analysts to uncover their success rate and average return.
- Join thousands of data-driven investors – Build your Smart Portfolio for personalized insights.
Crypto.com Sets March 31 Deadline for Token Conversions
While deposits will be disabled immediately, users have until March 31 to withdraw or convert their holdings. After that, any remaining assets will be automatically swapped into MiCA-compliant stablecoins. Crypto.com clarified, “Users holding these tokens will have until the end of Q1 to convert them to MiCA-compliant assets.”
Tether Faces Growing Delistings in Europe
The crackdown on USDT isn’t new. Coinbase (COIN) took a similar step in 2024, offering users a seamless conversion into Circle’s MiCA-approved USDC. With regulators tightening the noose, more European exchanges could follow suit.
Staying informed has never been more crucial for investors, and this can be achieved by leveraging tools like TipRanks’ Cryptocurrency Center to track their favorite cryptos. Click on the image below to stay ahead in this rapidly changing space.
