Revolut is about to delist the non-EU compliant stablecoin USDT.

ME News message: On July 4 (UTC+8), Revolut, Europe’s largest fintech company, notified users via in-app push notifications and emails that it will delist USDT. Users can still purchase USDT normally until July 6. New USDT deposits will stop being accepted on July 30. Users can still sell USDT or withdraw it to external wallets before August 31. After that, Revolut will convert any remaining USDT in users’ accounts into fiat currency at the exchange rate in effect at the time.

BlockBeats Note: Revolut’s main reason for delisting USDT is that the EU’s MiCA (Markets in Crypto-Assets Regulation) has been fully implemented and entered a strict enforcement phase in July. MiCA imposes very high compliance requirements on stablecoin issuers, including transparency of reserve assets, regular audits, liquidity safeguards, and strict regulatory authorization granted to issuers. As of today, Tether, the USDT issuer, has not applied for or fully met MiCA compliance certification in the European Union, causing USDT to be regarded as a “non-EU compliant stablecoin.” To avoid regulatory penalties, legal risks, and platform operational compliance issues, regulated European platforms such as Revolut must gradually delist USDT and provide users with a transition period. (Source: BlockBeats)