New regulation of the European Union’s Markets in Crypto-Assets (MiCA) is making Tether’s USDT, the world-famous stablecoin, delisted from European cryptocurrency exchanges today, December 30, 2024. Learn what exchanges are delisting USDT and what can be USDT alternatives.
What Exchanges Are Delisting USDT?
Since Tether has not followed all the rules set by the European Union’s Markets in Crypto-Assets (MICA), the rule has caused exchanges to delist Tether’s USDT.
The following table shows what exchanges are delisting USDT or have already delisted it.
| Exchange | Announcement Date | Announcement Details | Additional Information |
| Coinbase | December 27, 2024 | Coinbase has already delisted USDT for its European users to comply with upcoming MiCA regulations. | Users can convert their USDT to alternative stablecoins like USDC before the delisting date. |
| Crypto.com | December 28, 2024 | Crypto.com announced the delisting of USDT in the European market in compliance with MiCA regulations. | Users should withdraw or convert their USDT holdings to other supported stablecoins to avoid potential disruptions. |
| Kraken | December 29, 2024 | Kraken has informed its European users of the upcoming delisting of USDT, aligning with MiCA’s regulatory requirements. | Kraken recommends users transition their USDT holdings to stablecoins such as USDC or DAI. |
| Bitstamp | December 29, 2024 | Bitstamp has announced the suspension of USDT trading for its European customers in response to MiCA regulations. | Users are encouraged to withdraw or convert their USDT assets to avoid any inconvenience. |
| Binance | December 30, 2024 | Binance has stated that it will delist USDT for European users to comply with MiCA. | Binance advises users to convert their USDT holdings to other stablecoins available on the platform. |
| Huobi | December 30, 2024 | Huobi has notified its European user base of the delisting of USDT, according to the new MiCA regulations. | Users should manage their USDT holdings accordingly to ensure an easy transition. |
| OKEx | December 30, 2024 | OKEx has announced the removal of USDT trading pairs for European customers in light of MiCA’s implementation. | Users can utilize other stablecoins supported by OKEx for their trading activities. |
| KuCoin | December 30, 2024 | KuCoin has declared the delisting of USDT for its European users to ensure compliance with MiCA regulations. | Users should convert their USDT to alternative stablecoins. |
| Gate.io | December 30, 2024 | Gate.io has informed users of the suspension of USDT services for European clients, aligning with the new regulatory framework under MiCA. | Users are encouraged to withdraw or exchange their USDT holdings promptly. |
| Bittrex | December 30, 2024 | Bittrex has announced the delisting of USDT for its European customers, in compliance with MiCA’s regulatory standards. | Users should take necessary actions regarding their USDT assets to avoid any issues. |
While Coinbase has taken proactive measures, other major exchanges like Binance and Crypto.com were listing USDT for their EU users before today, adopting a wait-and-see approach until explicit guidance from regulators.
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MiCA’s Impact on Stablecoins
Stablecoins issuers working in Europe must follow certain rules set by MiCA, including maintaining clear reserves and regulatory approval.
Since Tether (USDT) is not following all these rules regarding transparency to meet MICA standards, there are concerns about its availability on European exchanges.
Also, as USDT is a major liquidity source in the crypto market, its delisting in Europe can reduce liquidity and increase volatility. So, it is wise to be prepared for potential market fluctuations.
Although MiCA regulations are effective as of today, December 30, 2024, the European Securities and Markets Authority (ESMA) has not issued a formal schedule for delisting USDT.
It means while some European exchanges, like Coinbase EU, have delisted USDT to follow MICA’s rules, others may continue to support it until they receive explicit directions.
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Is USDT Becoming Extinct?
Despite EU regulatory challenges, USDT is still a dominant stablecoin all over the world. It is widely used in non-EU regions and liquidity pools, so it is not likely for USDT to go extinct anytime soon.
However, it has an uncertain future in the EU regions and traders should follow the news and regulatory developments to see how these changes will affect exchange policies.
How Can This Affect Global Markets?
While MICA regulations mainly affect the EU, recent changes may cause a temporary dip in USDT’s market cap or liquidity as traders move to other stablecoins.
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What Are USDT Alternatives and How Can We Avoid Loss?
While USDT is a commonly used stablecoin outside the EU, and its global dominance isn’t immediately threatened, as long as it hasn’t solved issues with MICA, you can use the following stablecoins that do comply with MICA regulations.
- USDC (USD Coin)
- DAI (Decentralized Stablecoin)
- TUSD (TrueUSD)
- BUSD (Binance USD)
To minimize negative effects, you can consider the following measures.
- Hold different stablecoins, such as USDC, DAI, or TUSD, to avoid risks associated with USDT’s delisting.
- Monitor major exchange announcements and follow the news to see how exchanges support USDT in light of MiCA regulations.
- Choose the stablecoin with deep liquidity on your preferred exchange to avoid trade slippage.
- If you’re concerned about stablecoin volatility during the transition, you can convert funds directly into fiat currency.
- If you are in the EU, check whether your exchange supports USDC or other alternatives. You can also use decentralized exchanges (DEXs) like Uniswap or Curve, which provide diverse stablecoin pools.
- Understand how new crypto laws (like MiCA in the EU) might affect other assets you have in your portfolio.
- Use crypto assets like Bitcoin, Ethereum, or gold-backed stablecoins if you’re concerned about further regulatory shocks to the stablecoin market.
- You can also use non-EU exchanges that still support USDT (e.g., Binance Global or Bybit).
- Move USDT to self-custody wallets like MetaMask or hardware wallets until you need it.
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