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Crypto.com Delists Major Tokens in Europe Amid MiCA Compliance

Coin WorldWednesday, Jan 29, 2025 3:37 am ET

1min read

The European Securities and Markets Authority (ESMA) has mandated that cryptocurrency companies comply with the new stablecoin rules by March 31. This directive, part of the Markets in Crypto-Assets (MiCA) regulation, aims to enhance consumer protection and market integrity within the European Union's cryptocurrency landscape.

In response to this regulatory requirement, several prominent cryptocurrency exchanges have announced changes to their services. Crypto.com, for instance, has decided to delist several major tokens, including USDT and WBTC, in Europe. This move is a proactive measure to ensure compliance with the evolving regulatory frameworks, particularly the MiCA policy.

The exchange will disable the deposit functionality for these assets as of January 31, but users will still be able to withdraw their holdings until the end of the first quarter of 2025. This strategic move underscores Crypto.com's commitment to safeguarding user assets while adhering to regulatory guidelines.

The ESMA's directive is part of a broader effort to strengthen the regulatory environment for cryptocurrencies in Europe. The MiCA framework, once fully implemented, will provide a comprehensive set of rules governing the issuance, trading, and custody of crypto-assets. This will help to foster innovation while mitigating the risks associated with the rapidly evolving cryptocurrency market.

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