Revolut has announced that it will cease support for Tether's USDT for its European users as of August 31, 2026. This decision aligns with the company's compliance with the EU's Markets in Crypto-Assets (MiCA) regulation, highlighting the increasing regulatory scrutiny surrounding stablecoins.

Timeline for USDT Delisting

The delisting process will unfold in stages. Users will be unable to purchase USDT starting July 6, 2026, at 12:00 PM GMT. Following this, no new deposits will be permitted from July 30, 2026. By the final cut-off date of August 31, remaining USDT in user accounts will be converted to the base currency at the market rate.

Reasons for Delisting

In a customer notification issued on July 3, 2026, Revolut explained that the decision was a result of ongoing evaluations of the assets supported on its platform. The company cited regulatory and risk considerations as central to its decision to delist USDT, which lacked the necessary authorization under the MiCA framework.

Revolut’s compliance strategy follows its acquisition of a MiCA crypto-asset service provider license from the Cyprus Securities and Exchange Commission (CySEC) in November 2025. This license enables Revolut to operate regulated crypto services across approximately 30 European countries. MiCA mandates that all stablecoins listed by a licensed provider must have undergone specific authorization processes, which Tether has opted against.

Regulatory Implications for Tether

Under MiCA, stablecoins like USDT are classified as electronic money tokens (e-money tokens), requiring significant issuers to maintain at least 60% of their reserves in deposits within EU banks. Tether CEO, Paolo Ardoino, expressed concerns regarding the liquidity risks associated with MiCA’s requirements, suggesting that smaller European banks could be adversely affected if large-scale redemptions occurred simultaneously.

This regulatory landscape has led Tether to withdraw its euro-denominated stablecoin, EURT, in November 2024. With increasing scrutiny in the cryptocurrency market, Revolut's move could indicate wider implications for stablecoin issuers operating in the EU.