Crypto.com has announced plans to delist Tether’s USDT and nine other tokens across its European operations starting January 31, 2025, as it moves to comply with the EU’s Markets in Crypto-Assets (MiCA) regulations. The move comes amid growing regulatory pressure to phase out stablecoins that fail to meet the new compliance standards.
After January 31, deposits for the affected tokens will be disabled, but users will still be able to withdraw them until March 31, 2025. Any remaining balances beyond that date will be automatically converted to a MiCA-compliant stablecoin or another asset of equivalent market value, according to Crypto.com.
Among the tokens being delisted are Wrapped Bitcoin (WBTC), Dai (DAI), Pax Dollar (PAX), Pax Gold (PAXG), PayPal USD (PYUSD), and Crypto.com’s own staked assets (CDCETH, CDCSOL, and LCRO), along with XSGD.
The move follows an earlier decision by Coinbase, which announced in October 2024 that it would delist USDT in Europe due to non-compliance with MiCA. The European Securities and Markets Authority (ESMA) has been pushing exchanges to restrict trading of non-compliant stablecoins, with full enforcement set for March 31, 2025.
