Revolut, a Major European Fintech Company, Announces Delisting of USDT (Tether)

Revolut will discontinue support for Tether (USDT) for European users on August 31. Users can purchase USDT until July 6, but new deposits will be suspended from July 30. Users may sell or withdraw USDT until August 31, after which remaining balances will be converted to fiat currency at the prevailing exchange rate. This follows the EU's MiCA crypto regulation, which requires crypto firms in the European Economic Area to obtain licenses or cease operations. USDT faces restrictions under MiCA, and major exchanges have halted USDT services for European users. The European Securities and Markets Authority (ESMA) has urged unlicensed crypto service providers to orderly wind down operations while protecting investor interests, applying to 30 EU countries.