Revolut to Delist USDT for Some European Customers

Revolut will remove Tether's USDT stablecoin from its platform for some customers in Europe as the European Union's Markets in Crypto-Assets (MiCA) regulation comes into force.

The changes will be introduced in several stages. Customers will still be able to purchase USDT until July 6, 2026. Starting July 30, Revolut will no longer accept new USDT deposits. Users will be able to sell their USDT or withdraw it to supported external wallets until August 31, 2026, at 12:00 GMT.

After that deadline, holding USDT in a Revolut account will no longer be possible. If customers do not sell or withdraw their tokens before the cutoff, Revolut will automatically convert any remaining USDT into the account's base currency using the market exchange rate available at the time of the conversion.

The decision is driven by the EU's MiCA regulation, which introduces a new regulatory framework for the cryptocurrency market. Under the rules, stablecoin issuers and crypto service providers must meet stricter requirements covering licensing, reserve management, transparency, and regulatory oversight.

Tether has not obtained a MiCA license for USDT. The company's CEO, Paolo Ardoino, has previously argued that the new framework was not designed with the world's largest stablecoin in mind. He also expressed concerns about the reserve requirements, saying they raise questions regarding reserve structure, liquidity management, and redemption risks.

Following the implementation of MiCA on July 1, Revolut joins a growing number of crypto platforms limiting access to USDT in Europe. However, the restrictions will apply only to customers who have received an official notification from the company.