Tether has expressed disappointment over the delisting of its USDT stablecoin by exchanges in Europe following the implementation of the Markets in Crypto-Assets (MiCA) framework.
Tether has expressed disappointment over the delisting of its USDT stablecoin by exchanges in Europe following the implementation of the Markets in Crypto-Assets (MiCA) framework. A company spokesperson criticized the move, stating, “It is disappointing to see the rushed actions brought on by statements which do little to clarify the basis for such moves.”
Crypto.com confirmed it will remove USDT and nine other tokens from its European platform starting Jan. 31 to comply with MiCA regulations. Coinbase, which delisted USDT in December 2024, said it had removed a total of eight tokens to meet regulatory requirements and may reconsider listing stablecoins that achieve compliance in the future. Affected tokens include Wrapped Bitcoin (WBTC) and the Dai (DAI) stablecoin.
Tether warned that the regulatory changes could destabilize the European crypto market and pose risks for consumers. The company stated, “These changes affect many tokens in the EU market, not only USDT, and we fear that such actions will lead to further risk being placed on consumers in the EU.” It argued that MiCA’s early-stage implementation could lead to a disorderly market.
Under MiCA, non-compliant stablecoins must be fully restricted by the end of the first quarter of 2025, though exchanges may allow limited sell options until March 31. The European Securities and Markets Authority has instructed crypto asset service providers to begin restricting such stablecoins by the end of January.
While Tether remains critical of MiCA’s impact on EU-licensed stablecoins, it acknowledged the role of European regulators in establishing a structured framework. A spokesperson noted, “As we have consistently expressed, some aspects of MiCA make the operation of EU-licensed stablecoins more complex and potentially introduce new risks.” The company is adjusting its European strategy while working on MiCA-compliant initiatives such as Hadron and Quantor.
Tether also highlighted differences in stablecoin demand between Europe and emerging markets, pointing out that USDT has minimal use in Europe compared to other regions. Meanwhile, Circle’s USDC, which is MiCA-compliant, has gained ground. Following the launch of Donald Trump’s meme coins, TRUMP and MELANIA, USDC’s market cap surged by $8 billion, or nearly 20%, while USDT’s market cap remained largely unchanged.
As part of its strategy, Tether is relocating to El Salvador after securing a license to operate as a digital asset service provider and stablecoin issuer there. CEO Paolo Ardoino has praised the move, stating that Tether supports El Salvador’s vision for financial freedom and innovation through decentralized tech. Reports suggest that both Ardoino and Tether’s COO, Claudia Lagorio, acquired real estate and became naturalized citizens of El Salvador in 2024.
Tether continues to evaluate MiCA’s impact while preparing to comply with evolving regulations and developing new technologies.
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