BlockBeats report: On July 4, Revolut, Europe’s largest fintech company, notified users via app push and email that it will delist USDT. Users can still purchase USDT until July 6, new USDT deposits will be halted on July 30, and users can continue selling USDT or withdrawing to external wallets until August 31. Afterward, Revolut will convert any remaining USDT in user accounts into fiat currency at the prevailing exchange rate.
BlockBeats Note: The primary reason Revolut delisted USDT is that the EU’s MiCA (Markets in Crypto-Assets Regulation) has been fully implemented and entered its 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 for issuers. Tether, the issuer of USDT, has not yet applied for or fully met MiCA compliance certification in the EU, resulting in USDT being classified as a “non-EU-compliant stablecoin.” To avoid regulatory penalties, legal risks, and platform compliance issues, regulated European platforms such as Revolut must gradually delist USDT and provide users with a transition period.