Revolut delists USDT, gives users until Aug. 31 to sell or withdraw

Crypto neobank Revolut has notified users that it will delist Tether (USDT) ahead of the full implementation of the European Union's Markets in Crypto-Assets (MiCA) regulation. According to the notice, users can purchase USDT until July 6 and must sell their holdings or withdraw them to an external wallet by 12:00 p.m. UTC on Aug. 31. Any USDT remaining in accounts after this deadline will be automatically converted into fiat currency. Revolut stated the phase-out is necessary to avoid regulatory risks, as USDT issuer Tether has not met MiCA's requirements for reserve asset disclosure, regular audits, and liquidity management, classifying it as a non-compliant stablecoin under EU rules.