Revolut Delists USDT for European Users Under MiCA Rules

Timeline of the Delisting Process

Revolut notified affected customers that purchases of USDT will end on July 6. New deposits will stop being accepted after July 30. Users can sell their holdings or transfer them to external wallets until August 31 at 12:00 PM GMT. After this date, any remaining USDT balances will convert automatically to the account's base currency at the current market rate.

Connection to EU MiCA Regulations

The decision stems from the full enforcement of the Markets in Crypto-Assets regulation starting July 1. MiCA sets requirements for stablecoin issuers and service providers, including licensing, reserve management, disclosures, and oversight. USDT has not secured authorization under this framework.

Platforms operating in the EU must align with these standards. Revolut, which obtained a MiCA license as a crypto-asset service provider through Cyprus in late 2025, is adjusting its offerings accordingly. The changes apply to notified users in relevant jurisdictions but do not affect areas where USDT remains supported.

Tether's Position on Compliance

Tether, the issuer of USDT, has not pursued MiCA authorization. Tether CEO Paolo Ardoino has stated that the framework's reserve requirements, including holding a large portion in EU credit institutions, were not suitable for the largest stablecoin. He raised concerns about potential impacts on liquidity and redemption processes.

This stance has led several platforms to limit USDT access for European customers. Previous actions by exchanges such as Coinbase, Kraken, OKX, and Crypto.com followed similar patterns as MiCA implementation advanced.

Impact on Revolut Users

Revolut serves millions of customers across Europe and holds a significant position in fintech. The company advised users to review their holdings ahead of the deadline. Remaining balances will convert without further action from the account holder.

Revolut directed affected customers to information on authorized alternatives under MiCA. Compliant stablecoins from other issuers continue to be available on the platform.

Broader Context in European Crypto Regulation

MiCA aims to create a unified set of rules for crypto assets in the EU. The regulation covers service providers and stablecoin issuers with specific obligations for reserve assets and operational standards. As enforcement began, the number of authorized entities decreased from earlier virtual asset service provider registrations.

USDT maintains a large market presence globally, but its availability on regulated European platforms has narrowed. This shift directs activity toward tokens that meet the new criteria.

Recent separate events, such as Tether freezing certain wallets in response to sanctions, illustrate ongoing regulatory interactions in the stablecoin sector, though unrelated to MiCA.

Platform Adjustments and User Options

Revolut emphasized that the delisting follows its standard policy for such changes. Users can move assets to external wallets that support USDT if they wish to retain holdings outside the platform.

The company continues to expand crypto services under its MiCA license across EEA markets, focusing on compliant products. This includes potential growth in supported tokens and features.