Crypto Exchange Crypto.com to Delist Tether’s USDT Stablecoin
Crypto.com announced Tuesday that it would delist Tether (USDT) and several other assets for European Union customers, following regulatory compliance requirements outlined by EU authorities.
— Warmar (@warmar_crypto) January 28, 2025
Tether (USDT) and Other Assets to be De-listed from https://t.co/990kNYBYNn
Key Dates to Know:
31 Jan 2025:
-… pic.twitter.com/k5y2zRq3nL
The exchange informed users via email ahead of the enforcement of the Markets in Crypto-Assets (MiCA) regulations.
Delisting Timeline and Affected Assets
Starting January 31, 2025, Crypto.com will discontinue the purchasing, staking, and crypto-to-crypto exchange of USDT and other impacted assets.
Trading features such as Target Price, TWAP, and Recurring Buy will also be removed.
From March 31, 2025, users will no longer be able to sell or withdraw USDT and other delisted assets.
Any remaining balances will be automatically converted into a USD-backed stablecoin, as determined by Crypto.com.
The exchange urges users to review their holdings and take action before these deadlines to avoid automatic conversions or liquidity disruptions.
In addition to USDT, several other stablecoins and tokenized assets will be delisted, including DAI, PAX, PAXG, WBTC, XSGD, and PYUSD.
This move aligns with the EU’s tightening regulatory framework for digital assets, particularly MiCA, which establishes clearer guidelines for the use and issuance of stablecoins.
Crypto.com’s MiCA Compliance and EEA Expansion
Earlier this week, Crypto.com, along with Bitpanda and OKX, secured licenses under the European Union’s MiCA regulatory framework.
— Cryptonews.com (@cryptonews) January 27, 2025
Major crypto exchanges @Bitpanda_global, @okx, and @cryptocom have secured licenses under the European Union's Markets in Crypto-Assets (MiCA) regulation.#MiCA #EU #CryptoRegulationhttps://t.co/MpPWzpx00D
This approval allows the exchanges to continue offering services while ensuring compliance with new EU guidelines.
Crypto.com and OKX plan to leverage MiCA’s passporting feature to expand their services across the European Economic Area (EEA).
OKX intends to introduce a suite of trading options, including over-the-counter (OTC), spot, and automated trading, while also optimizing its website and mobile app for local users.
Crypto.com has not yet disclosed the full range of services it will provide in the EEA but has confirmed its commitment to expanding under the MiCA framework.
The post Crypto Exchange Crypto.com to Delist Tether’s USDT Stablecoin appeared first on Cryptonews.
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Crypto Exchange Crypto.com to Delist Tether’s USDT Stablecoin
Crypto.com announced Tuesday that it would delist Tether (USDT) and several other assets for European Union customers, following regulatory compliance requirements outlined by EU authorities.
— Warmar (@warmar_crypto) January 28, 2025
Key Dates to Know:
31 Jan 2025:
-… pic.twitter.com/k5y2zRq3nL
The exchange informed users via email ahead of the enforcement of the Markets in Crypto-Assets (MiCA) regulations.
Delisting Timeline and Affected Assets
Starting January 31, 2025, Crypto.com will discontinue the purchasing, staking, and crypto-to-crypto exchange of USDT and other impacted assets.
Trading features such as Target Price, TWAP, and Recurring Buy will also be removed.
From March 31, 2025, users will no longer be able to sell or withdraw USDT and other delisted assets.
Any remaining balances will be automatically converted into a USD-backed stablecoin, as determined by Crypto.com.
The exchange urges users to review their holdings and take action before these deadlines to avoid automatic conversions or liquidity disruptions.
In addition to USDT, several other stablecoins and tokenized assets will be delisted, including DAI, PAX, PAXG, WBTC, XSGD, and PYUSD.
This move aligns with the EU’s tightening regulatory framework for digital assets, particularly MiCA, which establishes clearer guidelines for the use and issuance of stablecoins.
Crypto.com’s MiCA Compliance and EEA Expansion
Earlier this week, Crypto.com, along with Bitpanda and OKX, secured licenses under the European Union’s MiCA regulatory framework.
— Cryptonews.com (@cryptonews) January 27, 2025
This approval allows the exchanges to continue offering services while ensuring compliance with new EU guidelines.
Crypto.com and OKX plan to leverage MiCA’s passporting feature to expand their services across the European Economic Area (EEA).
OKX intends to introduce a suite of trading options, including over-the-counter (OTC), spot, and automated trading, while also optimizing its website and mobile app for local users.
Crypto.com has not yet disclosed the full range of services it will provide in the EEA but has confirmed its commitment to expanding under the MiCA framework.
The post Crypto Exchange Crypto.com to Delist Tether’s USDT Stablecoin appeared first on Cryptonews.
Read More