Crypto.com is not the first exchange to take this step.
USDT, launched by Tether, is the largest stablecoin by market cap. However, new policies from the European Securities and Markets Authority (ESMA) mandate exchanges like Crypto.com to delist stablecoins that fail to meet MiCA’s specifications.
USDT isn’t the only stablecoin on the list of upcoming removals. Crypto.com will also delist nine other tokens for European users. This includes stablecoins like Dai (DAI), Pax Dollar (PAX), and PayPal USD (PYUSD). Other cryptos on this include Wrapped Bitcoin (WBTC), Crypto.com Staked ETH (CDCETH), Crypto.com Staked SOL (CDCSOL), Liquid CRO (LCRO), and XSGD (XSGD).
Crypto.com plans to delist these coins by March 31, 2025. This means users can’t buy these tokens on the exchange afterward. However, users have until March 31, 2025, to withdraw their tokens, after which Crypto.com will fully delist them.
If users do not withdraw or convert their tokens before March 31, Crypto.com will change them into another stablecoin or asset following MiCA rules. This means users will not lose their money but may end up with a different type of cryptocurrency.
Crypto.com is not the first exchange to take this step. Coinbase already delisted USDT in December 2024, allowing users to convert their USDT to USD Coin (USDC), approved under MiCA.
Other exchanges in the EU are also adjusting to the new regulations. Some have received MiCA licenses, while others, including Crypto.com, are working on securing one in Malta.
The information discussed by Altcoin Buzz is not financial advice. This is for educational, entertainment, and informational purposes only. Any information or strategies are thoughts and opinions relevant to the accepted levels of risk tolerance of the writer/reviewers and their risk tolerance may be different than yours. We are not responsible for any losses that you may incur as a result of any investments directly or indirectly related to the information provided. Bitcoin and other cryptocurrencies are high-risk investments so please do your due diligence. Copyright Altcoin Buzz Pte Ltd.
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