Cryptocurrency platform Crypto.com will delist USDT from Tether for Canadian users on January 31, according to the letter sent to users in the country.
After this period, trading, deposits and withdrawals in USDT will become unavailable. The assets will be automatically converted to USD Coin (USDC), its “rival” stablecoin.
According to the message sent to users:
“Please urgently check your USDT balances and take the necessary measures.”
The platform has also warned that withdrawing deposits made after the deadline may not be possible or may require additional fees.
The message reads:
“Crypto.com has excluded USDT for Canadian users in accordance with Ontario Securities Commission (OSC) instructions as part of our obligations to pre-register for a limited dealer license.”
