Revolut Gives USDT the August 31 Boot as Tether Skips the MiCA Guest List 🇪🇺

Revolut will delist Tether ($USDT) for European Union users on August 31, 2026, citing Tether's decision not to seek authorization under the European Union's Markets in Crypto-Assets (MiCA) framework. The move, announced in emails to customers and a July 3 post on X from the @Revolut account, ends the ability to hold USDT within the Revolut app for users in the region. Revolut, a fintech company with a $75 billion valuation serving more than 75 million customers, directed users to a DefiLlama dashboard of licensed stablecoin alternatives.

The delisting will follow a staged timeline. Customers can continue buying USDT until July 6, 2026. New USDT deposits will not be accepted after July 30, 2026. Users will still be able to sell their tokens or transfer them to supported external crypto wallets until August 31, 2026 at 12:00 PM GMT. Revolut warned that any balances remaining after that date will be converted automatically into the base fiat currency linked to each user's account. As Revolut stated in its notice, "We're delisting USDT from our crypto offering," and it urged customers to "Review your holdings before 31 August 2026 12:00 PM GMT."

MiCA moved into full enforcement on July 1, 2026, and the register of licensed providers has expanded to 280 firms. Tether has stayed out of the authorization rounds, echoing its earlier absence from previous approvals under the framework. MiCA rules require significant stablecoin issuers to hold at least 60% of reserves as bank deposits. Tether CEO Paolo Ardoino has previously argued that the reserve structure creates liquidity risks. Tether retired its euro stablecoin, EURT, in November 2024 rather than adapting it to MiCA requirements.

Audit transparency remains a separate concern for Tether. Consumers' Research recently wrote to US governors criticizing Tether's record, stating, "Tether's continual failure to undergo an independent audit raises a distressing red flag for the company and its USDT product. Tether has promised that it would conduct a full audit since at least 2017 but has still failed to do so. … Years later, there is still no audit." Tether has relied on quarterly attestations instead of full audits. In an April 2025 interview, Ardoino said the firm was still seeking a top-tier audit partner, noting that major accounting firms remain cautious about stablecoin clients following crypto exchange failures and hacks.

The delisting strengthens Circle's USDC, which holds MiCA authorization and continues to be listed on licensed venues in Europe. Circle has emerged as a primary compliant stablecoin option as USDT retreats from regulated European platforms. Despite the EU exit, USDT remains the largest stablecoin worldwide by market capitalization and the third-largest crypto asset overall.