Tether (USDT) will no longer be supported on the Crypto.com app in Canada
Crypto.com has notified its Canadian users that Tether (USDT) will no longer be supported in its app. On January 31, 2023 at 01:00 am EST, USDT will be delisted and all USDT transactions will be suspended.
Please take steps to review your USDT balance and take any necessary action (e.g. withdrawal or conversion) before the effective date.
The following services will be affected:
Trading and Deposits/Withdrawals
Trading and USDT deposits/withdrawals will be suspended in the Crypto.com App as of January 31, 2023 at 01:00am EST. Any remaining USDT balances will be automatically converted to USDC. Any USDT deposited into your Crypto Wallet after this date will not be credited.
You may incur recovery fees if USDT deposits are made from external wallets after this suspension period and in some cases recovery of funds may not be possible.
All recurring purchases through Tether after January 31, 2023 at 1:00 am EST will automatically end.
Tether will no longer be available in Crypto Earn after January 31, 2023 at 1:00 am EST and the Fixed and Flexible USDT programs in Crypto Earn will be terminated. Any remaining USDT allocation in Crypto Earn will be returned to your Crypto wallet and automatically converted into USDC. Users will not be able to allocate USDT in Crypto Earn programs starting January 16, 2023 at 1am EST.
USDT will no longer be available for purchasing power after January 31, 2023 at 1:00 am EST and your USDT balance will automatically convert to USDC. The settlement will be stopped during the conversion. Spending limit adjustments may occur after conversion, depending on the market prices of your benefit mix.
Top up card
USDT will no longer be available for card top-ups after January 31, 2023 at 1am EST. USDT as an automatic top-up method will also be deactivated.
If you selected USDT as your payment refund currency to resolve any merchant payment refunds, the refund currency will change to CRO after January 31, 2023 1:00 am EST. If you prefer to receive refunds in another currency, go to “Settings” > “Refund currency” to choose another currency.
Please note that all USDT to USDC conversions will be reasonably determined by Crypto.com by reference to real-time market rates at the time of conversion.
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Disclaimer: The information and opinions contained in this report are provided for general information only and do not constitute an offer or solicitation to buy or sell any Foreign Exchange Contracts or CFDs. Although the information contained herein was obtained from sources believed to be reliable, the author makes no guarantees as to its accuracy or completeness, and assumes no responsibility for any direct, indirect, or consequential damages that may arise from anyone relying on such information.