Yigit Taha OZTURK 
Tether has expressed disappointment over the delisting of its USDT stablecoin from Europe, citing “rushed” actions triggered by the implementation of the MiCA (Markets in Crypto-Assets) framework.
Crypto.com announced on January 29 that it would begin delisting USDT and nine other tokens in Europe starting January 31 to comply with MiCA regulations. Tether responded by criticizing the hasty nature of these actions, stating: “Such moves have been rushed with statements that do little to clarify the rationale behind these decisions.”
MiCA’s Potential Risks to the European Crypto Market
Tether has raised concerns that MiCA-driven changes pose significant risks to consumers and the local crypto market. With exchanges like Crypto.com preparing to delist numerous tokens, Tether warns that this could create a “disorderly” market in Europe, adversely affecting consumers.
Tether anticipates that these changes will place additional risks on European consumers, as MiCA regulations are still in the early stages of implementation. The impact extends beyond USDT, as several other tokens in the European market are also being affected.
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Coinbase, which delisted USDT in December 2024, also announced it had removed a total of eight tokens to comply with MiCA. The exchange previously delisted Wrapped Bitcoin (WBTC) for other reasons, stating that it would reassess the re-enabling of services for stablecoins that achieve MiCA compliance at a later date.
Tether Finalizing Its European Strategy
Tether emphasized that MiCA makes the operation of stablecoins in Europe more complex and introduces new risks. Additionally, it pointed out that the use of USDT in Europe is significantly lower compared to emerging markets where the stablecoin is very popular.
Despite these challenges, Tether continues to invest in innovative technologies like Hadron and projects such as Quantor, designed to be MiCA-compliant, while finalizing its European strategy for USDT.
The European Securities and Markets Authority (ESMA) has urged crypto asset service providers (CASPs) to restrict non-MiCA-compliant stablecoins by the end of January 2025, allowing them to be listed in sell mode until March 31, 2025, before a full ban on non-compliant stablecoins takes effect.
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