In light of recent regulatory updates from the European Securities and Markets Authority (ESMA) under the Market in Crypto Assets regulation (MiCA), Coinify is making critical adjustments to its offerings. The European Commission and ESMA have issued guidance to ensure that crypto asset service providers (CASPs) comply with new requirements for asset-referenced tokens (ARTs) and e-money tokens (EMTs), commonly referred to as stablecoins.
The regulatory framework specifies that non-compliant ARTs and EMTs must cease operations within the European Union by no later than the end of Q1 2025. This guidance is intended to ensure coordinated actions across EU member states and minimize disruptions to the crypto market.
As a result, Coinify will be delisting USDT, one of the most widely used stablecoins, from its platform in accordance with the following timeline:
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Buy Trades: USDT will no longer be available for purchase starting 31st January 2025.
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Sell Trades and Payments: Support for selling USDT and making payments using USDT will cease on 31st March 2025.
This decision aligns with ESMA’s reinforced position and aims to ensure full compliance with Titles III and IV of MiCA. While USDT has been a significant part of our ecosystem, we remain committed to adhering to regulatory standards to maintain a safe and compliant environment for all our users.
We understand that this change may impact many of our customers, especially those who have relied heavily on USDT for their transactions. As an alternative, we currently offer USDC on five different chains. Additionally, we are exploring support for other compliant stablecoins, such as EURC, as well as expanding to additional blockchain networks to enhance flexibility for our users.
If and when the regulatory landscape changes, we will consider enlisting USDT again. Our support team is available to assist with any questions or concerns you may have regarding this change.
Thank you for your understanding and continued trust in Coinify. Together, we are shaping the future of compliant and transparent crypto services in Europe.
For more details, please contact our support team or refer to the official ESMA and European Commission statements on MiCA compliance.