Crypto.com to delist Tether USDT, 9 other tokens in Europe on Jan. 31

Cryptocurrency exchange Crypto.com is among the first platforms to announce the delisting of Tether’s USDt and nine other tokens in Europe following the implementation of the Markets in Crypto-Assets Regulation (MiCA) framework.

Crypto.com will suspend purchases of Tether USDt (USDT) along with nine other tokens in line with Europe’s MiCA regulations on Jan. 31, a spokesperson for the exchange confirmed to Cointelegraph on Jan. 29.

After disabling deposits, the exchange will continue to support withdrawals for the affected tokens until the end of the first quarter of 2025, with full delisting scheduled for March 31.

“Users holding these tokens will have until the end of Q1, 31st of March, to convert them to MiCA-compliant assets, otherwise they will be automatically converted to a compliant stablecoin or asset of corresponding market value,” Crypto.com’s representative said.

Wrapped Bitcoin and Dai among affected tokens

Crypto.com’s MiCA-related delistings will affect a total of 10 cryptocurrencies, according to social media reports citing an email notice from the exchange from Jan. 28.

Apart from USDT, Crypto.com will also delist 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 (XSGD).

The delistings come in line with a recent statement from the European Securities and Markets Authority (ESMA), which pushed European crypto asset service providers (CASP) to restrict non-MiCA-compliant stablecoins on Jan. 31.

This is a developing story, and further information will be added as it becomes available.

Magazine: Stablecoin for cyber-scammers launches, Sony L2 drama: Asia Express