Bitvavo will delist Tether (USDT)
Bitvavo will delist Tether (USDT) on January 31st, 2025. Read this article for our timeline.
We will stop supporting Tether (USDT) on our platform on January 31st at 13:00 CET.
Bitvavo’s decision to delist USDT aligns with recent guidance published by the European Securities and Markets Authority (ESMA) and the European Commission (jointly the regulatory bodies) regarding the obligations for crypto-asset service providers (CASPs) under the Markets in Crypto-Assets (MiCA) regulation. The regulatory bodies request market parties like Bitvavo to restrict existing trading options by the end of January 2025 and to allow holders of USDT to liquidate or convert their position ultimately before the end of Q1 2025.
Below, you’ll find the details of this process and how it may impact your account.
Why is Tether (USDT) being delisted?
The decision to delist Tether (USDT) is grounded in the abovementioned regulatory developments within the European Union. While we aim to offer a diverse range of trading options, adhering to legal and regulatory standards is our foremost priority. This approach ensures that our platform continues to provide a secure, transparent, and trustworthy trading environment.
"This decision underscores our commitment to upholding EU regulations and safeguarding the interests of our users. “ — Jeetan Patel, CRO, Bitvavo
What does this mean for you?
We will implement the following timeline for the delisting:
Deposits, buying and selling: Available until January 31st, 13:00 CET.
Withdrawals: Available until February 3rd, 10:00 CET.
Automatic conversion: On February 4th or earlier, remaining USDT balances will be converted to USDC and credited to your account.
Withdrawal options
You can transfer your USDT to an external wallet or exchange before February 3rd, 10:00 CET. Detailed instructions for withdrawing your assets can be found here. Please act promptly to ensure your assets are managed according to your preferences.
For any balances not withdrawn in time, we will automatically attempt to convert them to USDC at the prevailing market rate on February 4th. Please note that while we will aim to secure the best available price, we cannot guarantee specific spreads.
Contact us
If you have any questions about this process, please contact our support team at [email protected].
We appreciate your understanding as we adapt to the evolving regulatory landscape and remain committed to providing a compliant, reliable platform for all our users.