The entry into force of Mica laws regulating the crypto currency market in Europe mobilized the stock markets in the region. In order to adapt to the regulations, many platforms began to exclude assets that were not suitable for Mica. One of the first platforms to take this step was Crypto.com. Crypto currency exchange Crypto.com announced that Tether’s USDT (USDT) and nine other tokens will be released from the list within the framework of crypto asset markets regulation (Mica), which entered into force in Europe.
Crypto.com announced a delist for many crypto currencies
Crypto currency exchange Crypto.com announced that Tether’s USDT (USDT) and nine other tokens will be released from the list within the framework of crypto asset markets regulation (Mica), which entered into force in Europe. Crypto.com spokesman, on January 29, the platform as of January 31, 2025 for users in Europe, USDT and nine token will stop the purchase of the reception. The stock market will continue to support the shooting process until the end of the first quarter, ie March 2025, after disabling deposits for these token. The Crypto.com official said that users with relevant tokens will have the opportunity to transform mica -compatible assets until March 31, otherwise these assets will automatically convert a mica -compatible stablecoine or an equivalent market value.
Crypto.com has a total of 10 crypto currencies that will be released from the list within the scope of Mica arrangements. According to an e-mail shared on social media and sent to its users on January 28, according to USDT, WRAPPED Bitcoin (WBTC), DAI (DAI), PAX Dollar (PAX), PAX Gold (PAXG), Paypal USD ( PYUSD, Crypto.com Staked Eth (CDCETH), Crypto.com Staked SOL (CDCSOL), Liquid Cro (LCRO) and XSGD (XSGD) will be removed from the list.
This development is in parallel with the recent statement of the European Securities and Markets Authority (ESMA). Esma called for crypto asset service providers (CASP) in Europe to restrict the restrictions of Mica -compatible stablecoins as of January 31st. This decision of Crypto.com is being implemented in line with the guidance of Esma. While other large stock exchanges operating in Europe are expected to take similar steps, the effects of Mica regulations on the market continue to be closely monitored for investors.
