February 27, 2025

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Crypto.com Set to Delist Tether USDT and 9 Other Tokens in Europe by January 31 for MiCA Compliance | CoinMarketCap

Crypto.com To Delist Tether USDT and 9 Other Tokens in Europe by January 31 To Comply with MiCA Regulations | CoinMarketCap

Crypto.com has announced that it will delist Tether’s USDT and nine other tokens in Europe by January 31, 2025, in order to comply with the European Union’s Markets in Crypto-Assets Regulation (MiCA).

The tokens being delisted include Wrapped Bitcoin (WBTC), Dai (DAI), Pax Dollar (PAX), Pax Gold (PAXG), PayPal USD (PYUSD), Crypto.com Staked ETH (CDCETH), Crypto.com Staked SOL (CDCSOL), Liquid CRO (LCRO), and XSGD. Purchases of these tokens will be suspended on Jan. 31, and deposits will also be disabled shortly after. Withdrawals will still be available until the end of Q1 2025, with full delisting expected by March 31, 2025.

Users have until March 31 to convert these tokens into MiCA-compliant assets. If not converted by this date, holdings will be automatically swapped for a compliant stablecoin or equivalent asset. The delisting is a result of the EU’s enforcement of MiCA regulations and ESMA’s push for compliance by Jan. 31, particularly targeting non-MiCA-compliant stablecoins like USDT.

MiCA mandates that stablecoins in the EEA must hold an e-money license from an EU member state. USDT, without such a license, has faced scrutiny in the region. Other exchanges like Coinbase have delisted USDT for non-compliance. Crypto.com’s delisting of USDT and other tokens is part of their effort to comply with MiCA and secure a license in Malta.

As exchanges in the EU race to meet MiCA standards, tokens like USDC are likely to thrive, while USDT may struggle in the European market.

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