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2 min read 29 Jan 2025

Crypto.com: Delisting of USDT for EU users from Jan. 31

By Daniele Corno

MiCA regulations have gone into effect and Crypto.com adapts for EU users: Delisting of USDT (and more) as of Jan. 31, 2025

Crypto.com: Delisting of USDT for EU users from Jan. 31

Crypto.com and the MiCA regulations: ready for delisting

Earlier in the day came the official announcement: Crypto.com will delist USDT and other tokens for European users starting January 31, 2025.

According to MiCA regulations , USDT does not meet the requirements such that it can be classified as an “E-Money Token” and for this reason, it is not compliant with the regulations.

In the communication, however, as expected, there are 9 other tokens in addition to USDT. Among them, in addition to Crypto.com ‘s proprietary staking tokens related to ETH and SOL (CDCETH, CDCSOL), we also find: DAI, PAX, PAXG, wBTC, lCRO, PYUSD and XSGD.

Restrictions and cut-off dates

For European users then, the ability to make crypto-crypto exchanges with these tokens will be eliminated. The ability to purchase these assets via debit and credit cards will also be eliminated .

Users will only have the option, starting January 31, to withdraw or convert their assets until March 31, 2025.

As of this date, in fact, Crypto.com will perform an automatic balance conversion of these tokens. The exchange will take place into a MiCA-compliant Stablecoin or other assets for an equivalent value.

A danger to Tether? Or maybe not...

Although Crypto.com is the first exchange to delist USDT, it is expected that many other exchanges will follow suit to operate in the EU territory.

The EU market for USDT however, is a very small percentage of Tether’s business which does not seem to have any intention of adapting to the regulations.

A bad thing? A good thing? According to reports from CEO Paolo Ardoino, MiCA’s requirement to keep 60 percent of reserves in EU banks is too much of a risk.

This decision therefore, in no way affects the use of USDT on other exchanges or on noncustodial wallets.

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bitcoin
Bitcoin (BTC) $ 105,000.13
ethereum
Ethereum (ETH) $ 2,529.25
tether
Tether (USDT) $ 1.00
xrp
XRP (XRP) $ 2.16
bnb
BNB (BNB) $ 644.83
solana
Solana (SOL) $ 145.69
usd-coin
USDC (USDC) $ 1.00
tron
TRON (TRX) $ 0.275152
dogecoin
Dogecoin (DOGE) $ 0.170356
staked-ether
Lido Staked Ether (STETH) $ 2,527.99
cardano
Cardano (ADA) $ 0.599900
wrapped-bitcoin
Wrapped Bitcoin (WBTC) $ 105,042.14
hyperliquid
Hyperliquid (HYPE) $ 37.91
wrapped-steth
Wrapped stETH (WSTETH) $ 3,045.66
sui
Sui (SUI) $ 2.80
bitcoin-cash
Bitcoin Cash (BCH) $ 464.11
chainlink
Chainlink (LINK) $ 13.21
leo-token
LEO Token (LEO) $ 9.19
stellar
Stellar (XLM) $ 0.251834
avalanche-2
Avalanche (AVAX) $ 17.95
the-open-network
Toncoin (TON) $ 2.91
whitebit
WhiteBIT Coin (WBT) $ 49.70
usds
USDS (USDS) $ 0.999928
shiba-inu
Shiba Inu (SHIB) $ 0.000012
weth
WETH (WETH) $ 2,529.42
wrapped-eeth
Wrapped eETH (WEETH) $ 2,703.08
litecoin
Litecoin (LTC) $ 85.01
binance-bridged-usdt-bnb-smart-chain
Binance Bridged USDT (BNB Smart Chain) (BSC-USD) $ 1.00
hedera-hashgraph
Hedera (HBAR) $ 0.146853
monero
Monero (XMR) $ 320.14
ethena-usde
Ethena USDe (USDE) $ 1.00
polkadot
Polkadot (DOT) $ 3.57
bitget-token
Bitget Token (BGB) $ 4.29
coinbase-wrapped-btc
Coinbase Wrapped BTC (CBBTC) $ 105,222.19
uniswap
Uniswap (UNI) $ 7.84
pepe
Pepe (PEPE) $ 0.000010
pi-network
Pi Network (PI) $ 0.539017
aave
Aave (AAVE) $ 262.77
dai
Dai (DAI) $ 0.999905
ethena-staked-usde
Ethena Staked USDe (SUSDE) $ 1.18
okb
OKB (OKB) $ 53.13
bittensor
Bittensor (TAO) $ 357.79
blackrock-usd-institutional-digital-liquidity-fund
BlackRock USD Institutional Digital Liquidity Fund (BUIDL) $ 1.00
aptos
Aptos (APT) $ 4.43
crypto-com-chain
Cronos (CRO) $ 0.091209
internet-computer
Internet Computer (ICP) $ 5.03
near
NEAR Protocol (NEAR) $ 2.18
jito-staked-sol
Jito Staked SOL (JITOSOL) $ 176.43
susds
sUSDS (SUSDS) $ 1.06
ethereum-classic
Ethereum Classic (ETC) $ 16.54