Revolut Axes Tether from Platform Amid EU Regulatory Risks

Crypto neobank Revolut has notified its users that it will be delisting Tether (USDT) due to regulatory risks associated with the stablecoin's non-compliance with the European Union's Markets in Crypto-Assets (MiCA) regulation.

The move is necessary as USDT issuer Tether has not met MiCA's requirements for reserve asset disclosure, regular audits, and liquidity management, classifying it as a non-compliant stablecoin under EU rules.

According to Revolut's notice, users can purchase USDT until July 6, but must sell their holdings or withdraw them to an external wallet by August 31. Any remaining USDT in accounts after this deadline will be automatically converted into fiat currency.