Key Points:
- Crypto.com will delist USDT and nine other European tokens on Jan. 31 to comply with MiCA regulations.
- Users have until March 31 to convert affected assets before fully delisting.
Crypto.com USDT delist and nine other European tokens on Jan. 31 to comply with MiCA regulations, giving users until March 31 to convert assets.
Crypto.com USDT Delist Reflects MiCA Compliance
Crypto.com has announced the delisting of Tether’s USDT and nine other tokens in Europe, effective January 31, to align with the European Union’s Markets in Crypto-Assets regulations. This move underpins the exchange’s commitment to regulatory compliance within the evolving European crypto landscape.
After delisting, users will still be allowed to withdraw the involved tokens until the end of the first quarter of 2025. Users need to exchange these assets into MiCA-compliant ones by March 31 so as not to be automatically converted into a compliant stablecoin or asset of equivalent market value, according to Cointelegraph.
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Impact of Crypto.com USDT Delist on European Users
The announced USDT delisting and other tokens from Crypto.com has come directly as a result of the European Securities and Markets Authority asking crypto-asset service providers to restrict non-MiCA-compliant stablecoins by March 31, 2025.
This is a regulatory-driven action that will put pressure on the users of the affected tokens to convert them into other asset types as soon as possible. If not, after March 31, such assets would be automatically converted into compliant assets, hence aligning them with the new regulatory standards.
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