Revolut will remove Tether’s USDT from eligible European accounts as new EU crypto rules kick in under the Markets in Crypto-Assets (MiCA) regime.
What’s happening and when
- Revolut has notified affected users by email and in-app messages that it will phase out USDT over the coming months.
- Customers can buy USDT only until July 6.
- New USDT deposits will be blocked starting July 30.
- Users may sell, withdraw, or transfer USDT to supported external wallets until Aug. 31, 12:00 PM GMT.
- Any remaining USDT after that deadline will be automatically converted into the account’s base currency at the market price, per Revolut’s crypto delisting policy.
Why Revolut is acting
Revolut tied the decision to the EU’s MiCA framework, which came into force and began being enforced on July 1. MiCA requires stablecoin issuers and crypto-service providers operating in the bloc to meet licensing, reserve, disclosure, and supervisory standards. USDT has not received MiCA authorization, and several platforms — including Revolut — are restricting European access to the stablecoin rather than offer services that would not comply with the new rules.
Tether’s response and the regulatory debate
Tether has argued MiCA’s reserve and redemption requirements are not well suited to the world’s largest stablecoin. Paolo Ardoino, Tether’s CEO, has voiced concerns about MiCA’s rules on reserve composition, liquidity management, and redemption mechanics. Those disagreements have left USDT without MiCA clearance and exposed to delistings by EU-facing providers.
Broader context: enforcement and freezes
Separately, Tether recently froze USDT balances in 131 TRON wallets after the U.S. Treasury’s Office of Foreign Assets Control (OFAC) expanded sanctions related to ISIS-K on July 1. OFAC’s update added 134 crypto wallet identifiers — 131 on TRON and three Monero addresses — linked to the Islamic State Khorasan Province. While that sanctions action is distinct from MiCA, it highlights that Tether can—and does—freeze tokens in response to law enforcement and regulatory directives.
What this means for users and the market
Revolut’s delisting underscores how MiCA is already reshaping stablecoin availability in Europe: tokens that lack authorization face restricted access or removal. Affected users should move or convert USDT before Aug. 31 to avoid automatic conversion. The move also signals continued fragmentation between global stablecoin issuers, regional regulators, and service providers as the post-MiCA landscape takes shape.
Read more AI-generated news on: undefined/news
