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Crypto.com to Delist USDT and 9 Other Cryptocurrencies in Europe on January 31

Popular digital asset exchange Crypto.com has announced that it will delist the USDT stablecoin and nine other cryptocurrencies in Europe on January 31, a few weeks after the Markets in Crypto Assets (MiCA) regulatory framework took effect.

The trading platform wrote on X that users won’t be able to purchase or deposit the affected crypto assets once the delisting happens. However, it will continue processing withdrawals until March 31.

Crypto.com has urged customers holding the ten cryptocurrencies to consider converting them to assets that comply with MiCA rules. Those who fail to do so by the end of March will see their affected assets automatically swapped for compliant stablecoins.

Affected Tokens Revealed

Alongside USDT, Crypto.com will delist PayPal USD, Pax dollar, Wrapped Bitcoin, Pax gold, Dai, Crypto.com Staked ETH, XSGD, Liquid CRO, and Crypto.com Staked SOL.

These delistings follow a statement released by the European Securities and Markets Authority earlier this month, which ordered crypto service providers in the European region to restrict the trading of cryptocurrencies that don’t comply with MiCA.

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What is MiCA?

For beginners, MiCA is a set of crypto rules adopted by all members of the European Union. The EU Parliament approved it on April 20, 2023, and it became effective in late 2024. This regulatory framework requires crypto service providers to operate transparently in an effort to protect European investors.

More Crypto Platforms to Delist USDT

Coinbase was the first exchange to deem USDT as a non-compliant stablecoin under the MiCA framework last October. It delisted the token in December and automatically converted users’ USDT holdings to MiCA-compliant assets like USDC, the second-largest stablecoin by market cap.

As of January 29, OKX is the only exchange that has followed Coinbase’s direction to delist Tether’s USDT. However, analysts expect platforms like Binance, Kraken, Bitget, MEXC, and KuCoin to stop supporting the stablecoin later this quarter as they seek to obtain MiCA licenses.

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MiCA’s technical Committee member Juan Ignacio Ibañez has urged crypto platforms to restrict all non-compliant crypto assets by March 31 to avoid lawsuits.


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Andrew Richard

Andrew is a news writer for Tokenhell, he enjoys tuning in to the daily crypto markets and writing about the latest updates and happenings.

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