Crypto: Tether Denounces “hurried” Withdrawals Of USDT In Europe

The issuer of the stablecoin USDT has expressed concerns regarding the withdrawal of its crypto from European platforms. This decision, driven by the new MiCA regulation, could create what Tether describes as a “disordered” market and present risks for European consumers.

European Exchanges Comply with MiCA by Withdrawing USDT

Crypto.com, one of the leading crypto exchange platforms, announced on January 29, 2025, the withdrawal of USDT and nine other tokens in Europe starting January 31. This decision aims to comply with the MiCA regulation of the European Union.

Coinbase had already taken a similar approach in December 2024 by removing USDT and five other cryptos. The platform stated that it could reintroduce certain stablecoins if they become compliant with MiCA.

Tether reacted by denouncing “hasty” decisions made based on “vague statements”. A spokesperson expressed disappointment over these measures, believing they lack clarity regarding their justification.

“It is disappointing to see hasty actions prompted by statements that do not contribute to clarifying the basis for such measures,” he stated to Cointelegraph.

A Significant Impact on the European Crypto Ecosystem

Tether believes that these new regulations could significantly disrupt the European cryptocurrency market, while MiCA is still in its infancy. The company emphasizes that these restrictions do not only apply to USDT but also to other tokens such as Wrapped Bitcoin and the stablecoin DAI.

The issuer of USDT also reminds that dollar-pegged stablecoins remain underutilized in the European Union, unlike in emerging markets where USDT plays a key role. “The USD stablecoin market is nearly negligible in Europe”, a spokesperson emphasizes.

Despite these reservations, Tether is finalizing its European strategy for USDT and claims to want to comply with MiCA requirements while developing innovative solutions, such as Hadron, designed to meet the new rules.

The situation could evolve rapidly, as ESMA has requested crypto platforms to withdraw non-compliant stablecoins by the end of March 2025.

In summary, this context fuels the critiques from U.S. President Donald Trump, who recently denounced European regulation as “very unfair” to American companies during a virtual speech in Davos.