Revolut to Delist 'Non-EU Compliant Stablecoin' USDT

BlockBeats News, on July 4, Europe's largest fintech company Revolut informed users via app notifications and emails that it will delist USDT. Users can still purchase USDT normally before July 6, and new USDT deposits will stop being accepted on July 30. Before August 31, users can still sell USDT or withdraw it to external wallets. After that, Revolut will convert any remaining USDT in user accounts into fiat currency based on the exchange rate at that time. BlockBeats Note: The primary reason for Revolut's delisting of USDT is the full implementation of the EU's MiCA (Markets in Crypto-Assets Regulation), which entered a strict enforcement phase in July. MiCA imposes very high compliance requirements on stablecoin issuers, including transparency of reserve assets, regular audits, liquidity guarantees, and stringent regulatory authorization for issuers. Tether, the issuer of USDT, has not yet applied for or fully met MiCA compliance certification in the EU, leading to USDT being classified as a 'non-compliant stablecoin.' To avoid regulatory penalties, legal risks, and platform operational compliance issues, regulated platforms in Europe like Revolut must gradually delist USDT and provide a transition period for users.