According to a recent Twitter post by CryptoNewsLand, Crypto.com, one of the top cryptocurrency exchanges, has declared that it will delist Tether in Canada. USDT is the leading stablecoin by market capitalization. According to the report, the large crypto exchange will not only delist USDT but will also delist Cronos Coin (CRO).
Read CRYPTONEWSLAND onAccording to a Reddit thread, Canadian citizens received an email from the Crypto.com firm stating that they will remove the USDT from their app. Sources familiar with the reports state that the Exchange App and Earn program, as well as other services CDC offers, will be removing USDT.
In the Reddit thread, some seemed to take the report positively, while others viewed the news in a pessimistic manner, with some saying that the USDT is already sketchy and that Canada is on the right track by delisting the USDT from the crypto exchange. Canada is in line with crypto regulations, so this could be because of the regulation of crypto in the country.
This comes after Crypto.com halted the flow of two top Solana ecosystem stablecoins, as the implosion of Sam Bankman-Fried’s FTX empire continues to wreak havoc across the wider crypto ecosystem.
Currently, the price of USDT is down by 0.01% and is trading at $0.9999 with a market capitalization of $66,272,099,866 and a trading volume of $26,062,434,965, which is an increase of 3.38%.
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