Crypto.com to delist Tether for EU users on Jan. 31

After obtaining a market license in crypto-sets, Crypto.com will become the second major exchange of digital assets to interrupt the commercial support for the stablecoin of Tether in Europe.

Crypto.com plans to set up the stablecoin (USDT) By January 31 for European customers due to compliance with markets in cryptocurrency regulations, according to an email emitted to users seen on January 28.

The e-mail quoted also included the radiation of an opinion for a multitude of other assets, including DAI (Dai), Wrapped bitcoin (WBTC), Pax Gold, Pax Dollar and three tokens derived from digital assets operated by Crypto.com. A spokesperson said in a press release obtained by Crypto.News the decision only affected EU users and advised customers to convert the ongoing assets to be in accordance by March.

In accordance with the regulatory requirements of Mica, we will suspend the purchase of assets assigned on January 31, 2025. Be automatically converted into a stablecoin or an asset compliant with a corresponding market value.

Crypto.com representative

Once effective, Crypto.com will follow Coinbase as the second major crypto exchange to delimit USDT in Europe. Jamming Final support For stablecoin at the end of last year, citing non-compliance with the frame of Mica.

Crypto.com’s decision occurs shortly after the company guaranteed A Mica license in Malta, allowing it to operate services related to cryptography through the EU within the framework of the regulatory framework.

Tether’s future on the European market has faced increased uncertainty since Mica has introduced stricter standards for stablescoins and crypto services through the continent.

Despite the challenges, the USDT transmitter expressed confidence in its ability to meet the requirements of the mica. In December, Tether announced a investment In the European STABLR company to strengthen its stablecoin offer at EURO Pointe.

However, the fate of the USDT dollars of Tether de Tether in the EU is unclear. Platforms like Coinbase could cope with additional regulatory pressure for set up USDT in other regions, including the United States, if concerns of conformity persist. It should be noted that the main adoption of the USDT is concentrated in emerging markets outside the United States and Europe.