# Crypto.com Will Cease Providing Tether to European Clients on January 31
Following Coinbase’s example, Crypto.com will emerge as the second significant digital asset marketplace to discontinue Tether stablecoin trading in Europe after securing a crypto asset market permit. Solana Co-Creator Anatoly Yakovenko Says Layer 2 Solutions are Unnecessary
According to an electronic message dispatched to users on January 28, Crypto.com intends to eliminate Tether’s dollar-pegged stablecoin (USDT) by January 31 due to the necessity of adhering to crypto asset market rules.
The electronic message also referenced delisting notifications for additional assets, including Dai (DAI), Wrapped Bitcoin (WBTC), Pax Gold, Pax Dollar, and three digital asset derivatives tokens managed by Crypto.com. A representative stated in a declaration acquired by crypto.news that the determination solely impacts EU users and suggested that clients transform their outstanding assets into compliant tokens by March.
> As a result of MiCA regulatory stipulations, we will halt acquisitions of impacted assets on January 31, 2025. Users possessing these tokens will be authorized to convert them into MiCA-compliant assets by the conclusion of the initial quarter, specifically March 31; otherwise, they will be automatically transformed into MiCA-compliant stablecoins or assets possessing equivalent market worth.
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> Crypto.com Representative
Once implemented, Crypto.com will emulate Coinbase as the second major cryptocurrency marketplace to delist USDT in Europe. Coinbase ceased backing the stablecoin late the prior year, mentioning non-compliance with MiCA’s framework.
Crypto.com reached the verdict shortly after acquiring a MiCA permit in Malta, which empowers it to conduct crypto-related services within the EU under the regulatory structure.
Tether’s prospects in the European marketplace have encountered escalating ambiguity as MiCA introduces more stringent standards for stablecoins and crypto services throughout the continent.
Notwithstanding the obstacles, USDT’s issuer has conveyed assurance in its capacity to fulfill MiCA’s requirements.
In December, Tether, the organization responsible for USDT, revealed its investment in StablR, a European business, with the goal of bolstering its Euro-supported stablecoin activities.
Should adherence problems continue, exchanges such as Coinbase may encounter heavier regulatory constraints and could be compelled to eliminate USDT in areas like the United States. It’s important to acknowledge that USDT’s main application is focused in developing economies beyond the US and Europe. Nevertheless, the outlook for Tether’s substantial $138 billion USDT stablecoin in the European Union is still unclear.
