Tomorrow marks the end of USDT’s run on regulated European crypto platforms. July 1, 2026, is the hard deadline for the EU’s Markets in Crypto-Assets regulation, and Tether, the issuer of the world’s largest stablecoin with a market capitalization between $175 billion and $186 billion, never bothered to apply for authorization.
MiCA requires stablecoin issuers to obtain e-money token authorization to operate within the European Economic Area. Without it, exchanges can’t legally offer the token to EEA clients.
Tether has not applied for MiCA authorization as of June 2026, a decision that aligns with its broader posture of focusing on markets outside Europe rather than complying with the bloc’s stringent bank reserve mandates.
Coinbase Europe delisted USDT back in December 2024. Crypto.com followed in January 2025. Binance’s EEA entity restricted USDT trading pairs in March 2025. Major platforms have already started converting or limiting USDT balances for their European users in anticipation of the final deadline.
Tether also discontinued its euro-denominated stablecoin, EURT, back in 2024, walking away from the European market entirely.
