Crypto.com has announced plans to delist Tether’s USDT and nine other tokens across its European operations starting January 31, 2025, as it moves to comply with the EU’s Markets in Crypto-Assets (MiCA) regulations.

French prosecutors have reportedly launched a judicial investigation into Binance, targeting allegations of money laundering, tax fraud, and illegal client solicitation between 2019 and 2024.

The Czech National Bank (CNB) could become the first major central bank to hold Bitcoin, as its governor, Aleš Michl, prepares to propose an investment strategy to the bank’s board this Thursday. 

Top stories in the Crypto Roundup today:

• Crypto.com to Delist Tether (USDT) and Nine Other Tokens in Compliance with MiCA
• Binance Faces Fraud and Money Laundering Probe in France
• Czech Central Bank Governor Proposes $7B Bitcoin Investment Plan

Crypto.com to Delist Tether (USDT) and Nine Other Tokens in Compliance with MiCA

Crypto.com has announced plans to delist Tether’s USDT and nine other tokens across its European operations starting January 31, 2025, as it moves to comply with the EU’s Markets in Crypto-Assets (MiCA) regulations. The move comes amid growing regulatory pressure to phase out stablecoins that fail to meet the new compliance standards.

After January 31, deposits for the affected tokens will be disabled, but users will still be able to withdraw them until March 31, 2025. Any remaining balances beyond that date will be automatically converted to a MiCA-compliant stablecoin or another asset of equivalent market value, according to Crypto.com.

Among the tokens being delisted are Wrapped Bitcoin (WBTC), Dai (DAI), Pax Dollar (PAX), Pax Gold (PAXG), PayPal USD (PYUSD), and Crypto.com’s own staked assets (CDCETH, CDCSOL, and LCRO), along with XSGD.

The move follows an earlier decision by Coinbase, which announced in October 2024 that it would delist USDT in Europe due to non-compliance with MiCA. The European Securities and Markets Authority (ESMA) has been pushing exchanges to restrict trading of non-compliant stablecoins, with full enforcement set for March 31, 2025.

Binance Faces Fraud and Money Laundering Probe in France

French prosecutors have reportedly launched a judicial investigation into Binance, targeting allegations of money laundering, tax fraud, and illegal client solicitation between 2019 and 2024. The probe, led by France’s economic and financial crime unit (JUNALCO), also examines the exchange’s role in facilitating illicit transactions linked to drug trafficking.

Binance, the world’s largest crypto exchange, has denied the allegations, vowing to "vigorously fight any charges" while emphasizing improvements in its anti-money laundering (AML) and compliance programs. However, this isn’t the first regulatory hurdle for the company—Binance has faced investigations across multiple jurisdictions, including the United States, Australia, and the UK.

In the U.S., Binance agreed to a $4.3 billion settlement in 2023 after being accused of operating under a “Wild West” model that welcomed criminals and processed over 100,000 suspicious transactions linked to terrorist groups. Former Binance CEO Changpeng Zhao (CZ) pleaded guilty to violating U.S. anti-money laundering laws and was sentenced to four months in prison.

The French investigation reportedly started after multiple complaints from users alleging they were misled into investing on Binance without adequate disclosures. Additionally, regulators are questioning whether Binance operated without the necessary approvals in France and the broader European Union.

Czech Central Bank Governor Proposes $7B Bitcoin Investment Plan

The Czech National Bank (CNB) could become the first major central bank to hold Bitcoin, as its governor, Aleš Michl, prepares to propose an investment strategy to the bank’s board this Thursday. If approved, the CNB would allocate up to 5% of its €140 billion ($146.1 billion) reserves into Bitcoin—equivalent to $7 billion.

In an interview with the Financial Times, Michl acknowledged Bitcoin’s extreme volatility but argued that the move aligns with the CNB’s progressive investment approach. Unlike most central banks that favour low-risk assets like U.S. Treasuries and cash, the CNB already holds 22% of its reserves in equities, positioning itself as one of the more risk-tolerant monetary authorities.

Michl cited several reasons for considering Bitcoin:

• Growing institutional adoption, particularly after BlackRock’s spot Bitcoin ETF launch in 2024
• U.S. President Donald Trump’s increasingly pro-crypto stance, which could accelerate mainstream adoption
• The need to diversify reserves amid currency devaluation risks

If approved, this move would mark a significant milestone in Bitcoin’s institutional acceptance, potentially paving the way for other central banks to follow suit. However, the proposal faces scepticism, as most monetary policymakers—including Federal Reserve Chair Jerome Powell and the European Central Bank (ECB)—have dismissed Bitcoin as a reserve asset.

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