Revolut Ditches Tether as EU Regulatory Crackdown Continues

Revolut, a fintech giant serving over 75 million customers, has announced it will delist Tether's USDT by August 31 due to new European Union regulations. The decision comes as a result of MiCA (Markets in Crypto-Assets) rules, which prohibit licensed platforms from offering non-authorized e-money tokens to public customers.

The trigger for Revolut's action was the full enforcement of MiCA on July 1, which left Tether without a legal route to offer USDT to EU retail customers. According to the source, Tether intentionally avoided registering under MiCA and instead used Hadron-backed StablR tokens to maintain European exposure.

The delisting process will be staged, with purchases of USDT remaining open until July 6 and new deposits stopping on July 30. Users can sell or withdraw their balances to external wallets until August 31, after which any remaining balances will convert automatically to fiat at prevailing exchange rates.