Crypto.com will be removing Tether (USDT) from its European user offerings starting January 31, as the company prepares to fully comply with the Markets in Crypto-Assets (MiCA) regulatory standards. The exchange’s European customers are now prompted to manage their USDT holdings, with a deadline until March 31 to either transfer or exchange their assets, before automatic conversion by the platform takes place.
This strategic shift comes as Crypto.com secures a significant operational license in Malta, granting them the authority to function across European Union nations within the rigorous conditions set by the MiCA framework. This delisting not only impacts USDT but also includes other digital assets that Crypto.com is phasing out as part of its conformance plan.
With the regulatory environment becoming more stringent within the EU, exchanges like Crypto.com are revising their asset offerings to align with the legal directives. The company’s proactive measures indicate its focus on maintaining a compliant and secure trading environment for its users. Tether’s issuer remains resilient, looking towards enhancing its services in Europe through strategic investments despite facing regulatory hurdles in the EU market.
The evolving regulatory status of cryptocurrencies like Tether is a focal point for exchanges and investors alike. As Crypto.com sets an example for compliance, the crypto market continues to adapt, signaling a new era of regulated digital asset operations within the European Union.
