Crypto.com has announced significant changes regarding the support of Tether’s USDT for its users in Europe. This decision is in response to the EU’s Markets in Crypto-Assets (MiCA) regulations, which require compliance from cryptocurrency exchanges operating within the region.
By January 31, 2025, Crypto.com will cease support for several non-compliant assets, including:
- Tether (USDT)
- Dai
- Wrapped Bitcoin
- Pax Gold
- Pax Dollar
- Derivative tokens of the above assets
Users are encouraged to convert these assets to alternatives that comply with MiCA by March 31, 2025. If users do not take action, their holdings will be automatically converted to a stablecoin or an asset of similar value. This change specifically impacts EU customers, as confirmed by a spokesperson from Crypto.com. The future of Tether’s $138 billion stablecoin in the EU remains uncertain, despite Tether’s efforts to comply with the new regulations.
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