Overview
- Revolut, which announced the change Saturday, will stop USDT purchases on July 6, stop new USDT deposits on July 30, and require users to sell or transfer holdings by August 31.
- Any USDT left in affected accounts after August 31 will be automatically converted into the user’s fiat balance at the prevailing market price under Revolut’s delisting policy.
- Revolut tied the decision to the EU’s Markets in Crypto‑Assets rules that began full enforcement on July 1 and require stablecoin issuers and service providers to meet licensing, reserve, disclosure, and supervision rules.
- Several regulated exchanges have already limited or removed USDT for European customers and are rebuilding liquidity around MiCA‑approved alternatives such as USDC and EURC after issuers secured EU authorization.
- Tether has not sought MiCA authorization and is also facing separate compliance pressure after it froze 131 TRON wallets following a U.S. Treasury sanctions update, which adds to firms’ reluctance to support USDT on regulated EU services.