Overview
- Revolut announced July 4 that it will delist USDT with a phased timetable: purchases end July 6, new deposits stop July 30, and users must sell or withdraw by August 31 when remaining balances will be auto‑converted to fiat.
- The delisting follows Revolut’s MiCA authorisation from Cyprus’s CySEC and stems from Tether’s decision not to seek MiCA approval, which leaves USDT ineligible for listing on licensed EU trading venues.
- Users who want to keep holding USDT can withdraw to external wallets or non‑EU platforms before August 31 because MiCA does not ban private ownership or transfers of non‑authorised tokens.
- The change accelerates a market shift toward MiCA‑approved stablecoins such as Circle’s USDC and EURC, which are gaining on‑platform liquidity and wider support across regulated European services.
- This enforcement wave comes as issuers face parallel compliance and law‑enforcement pressures, including recent OFAC sanctions that prompted Tether to freeze 131 TRON wallets, and it could reshape where European users custody and move dollar‑pegged funds.