USDT Delisting Continues as EU Crypto Licensing Deadline Hits

July 1 marks the end of Europe's transitional window for crypto licensing under MiCA (Markets in Crypto Assets) regulations. With no extensions on the table, most unlicensed exchanges will be pushed off the EU market. Tether's USDT has lost its last regulated foothold in the region.

Only about 194 crypto firms held a license by May 2026, out of more than 3,000 that once registered with national authorities across the 27 EU member states. Supervisors expect roughly 75% of those older firms to lose the right to serve EU clients.

Tether's stablecoin, the world's largest at about $175 billion, has been delisted from every licensed EU venue. Binance, Coinbase, Kraken, and Crypto.com all pulled USDT for European users after Tether declined to seek authorization.