Crypto.com exchange closes access to 10 digital assets in Europe

Crypto.com is delisting the stablecoin USDT, issued by Tether, from its platform in Europe, along with blocking access to nine other crypto assets for users. This was reported by the platform's press service.

This decision was made to comply with the EU's cryptocurrency regulation law (MiCA). Crypto.com stated that, starting from January 31, European clients will no longer have access to the stablecoin USDT, as well as crypto assets wBTC, DAI, Pax Dollar (PAX), Pax Gold (PAXG), PayPal USD (PYUSD), Crypto.com Staked ETH (CDCETH), Crypto.com Staked SOL (CDCSOL), Liquid CRO (LCRO), and XSGD (XSGD).

Users who already hold these tokens can convert them into MiCA-compliant assets until March 31. Otherwise, they will be converted into the corresponding stablecoin or an asset with a similar market value. Crypto.com's decision was made shortly after receiving preliminary approval to operate from the Maltese regulator.

Earlier, experts from QCP Capital reported that bullish sentiment in the cryptocurrency market has virtually disappeared, and until confirmation of the creation of a strategic reserve in Bitcoin in the US, the dynamics of the first digital currency will not change.