Revolut to end USDT support for select European accounts by August 2026 under MiCA rules

Revolut, a leading European fintech platform, has notified users that it will discontinue support for the stablecoin USDT (Tether) in certain eligible European accounts. The move comes as part of Revolut’s efforts to comply with the European Union’s new Markets in Crypto-Assets (MiCA) regulations. Impacted users will be required to sell, withdraw, or transfer their USDT holdings to another wallet by 12:00 GMT on August 31, 2026.

Phased transition schedule announced

Revolut shared details of the change with affected customers via email and in-app notifications. According to the announcement, USDT support will be phased out gradually, featuring a two-month transition period. Users can continue to purchase USDT through July 6, after which new purchases will be restricted.

Deposits of new USDT will no longer be accepted after July 30, 2026. Following this deadline, users will still be able to buy or sell existing USDT balances and transfer tokens to other crypto wallets until August 31, 2026.

Remaining balances to be converted

The company has urged customers to review their USDT balances in advance of the deadline. In accordance with Revolut’s delisting policy, any remaining USDT in relevant accounts after the closing date will be automatically converted into the user’s primary currency, based on the USDT price at the time of delisting.

Revolut emphasized that this procedure applies only to customers who have been directly informed of the change. Users in regions where USDT will continue to be supported can still access the asset, confirming that the decision is limited to eligible accounts within Europe.

The regulatory impact of MiCA

At the heart of this decision lies the European Union’s recent crypto regulation, MiCA. This new legal framework establishes unified rules for crypto asset issuers and service providers within the EU, introducing stricter compliance requirements.

Mini glossary: MiCA is the European Union’s regulatory framework for crypto asset markets. It imposes common requirements for licensing, transparency, and reserve management, particularly targeting stablecoin issuers and crypto service providers.

USDT does not yet have regulatory authorization under MiCA. Tether CEO Paolo Ardoino previously argued that the framework was not designed with the world’s largest stablecoin in mind, citing issues such as reserve requirements, liquidity management, and potential redemption risks for issuers.

Part of a broader transition across Europe

Revolut’s decision comes amid a wider shift in Europe, following the launch of MiCA compliance on July 1. Several other crypto platforms serving European users have also begun restricting access to USDT, underscoring closer scrutiny of listed tokens for compliance with EU rules.

Separately, Tether attracted attention recently when it froze USDT balances in 131 accounts on the TRON blockchain, in response to US Treasury Department sanctions updates. These wallets were reportedly linked to a group known as Horasan Province. While not directly tied to MiCA, the move demonstrated Tether’s ability to block USDT on TRON when requested by regulators or law enforcement.

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