$USUAL Starting tomorrow, January 31, 2025, Crypto.com exchange will suspend purchases and deposits of Tether (USDT) and other cryptocurrencies for European customers in compliance with the European Union’s Markets in Crypto-Assets Regulation (MiCA). Withdrawals will be permitted until the end of Q1 2025, after which any remaining assets will be automatically converted to supported stablecoins. 

MiCA, which came into effect on December 30, 2024, sets strict requirements for stablecoin issuers, including licensing as electronic money institutions and holding reserves with recognized banks. Tether, the issuer of USDT, has faced challenges in meeting these requirements, prompting European exchanges to delist USDT from their platforms. 

In response, Tether announced the discontinuation of EURT, its euro-pegged stablecoin, due to the new regulations and low demand. The company is focusing on initiatives that address evolving regulatory requirements in Europe. 

While USDT remains the largest stablecoin in the world with a significant market cap, these regulatory changes could impact its presence in the European market. Investors and users should keep an eye on exchange updates and Tether’s policies to ensure compliance with new regulations.