This action is required to comply with the European Union’s Markets in Crypto-Assets Regulation (MiCA), which establishes strict regulatory requirements for stablecoins classified as Asset-Referenced Tokens (ARTs) and E-Money Tokens (EMTs). Under MiCA, issuers of ARTs and EMTs must obtain authorization from regulatory authorities, ensure adequate and transparent reserves, implement robust risk management frameworks, and provide regular detailed disclosures to users and regulators. Additionally, these stablecoins must be redeemable at all times at par value. According to recent guidance provided by ESMA and the European Commission, crypto-asset service providers (CASPs) and virtual asset service providers (VASPs) operating in the EEA are required to discontinue services related to stablecoins that are not compliant with MiCA requirements. Stablecoins such as USDT, PYUSD, EURT, FDUSD, and USD3 are currently classified as non-compliant due to their failure to meet MiCA’s requirements and the absence of registration with the respective authorities. As a regulated virtual asset service provider (VASP), we are required to discontinue support for non-compliant tokens to ensure full regulatory compliance, protect our customers, and uphold market integrity and stability.

Why are certain stablecoins being discontinued?

The affected stablecoins on the Tothemoon platform include USDT, PYUSD, EURT, FDUSD, and USD3.

What stablecoins are affected by this update?

Between April 1 and April 15, you will have the ability to withdraw or convert these stablecoins into compliant tokens. You may contact <a href="mailto:support@tothemoon.com" rel="noreferrer" target="_blank">support@tothemoon.com</a> at any time to request the conversion of these stablecoins to supported assets without any fees.

What happens if I have a balance in these stablecoins after April 1, 2025?

Any balances in USDT, PYUSD, FDUSD, and USD3 remaining on your account as of April 16, 2025, will automatically be converted into USDC at a 1:1 ratio, while EURT balances will be converted into EUR at a 1:1 ratio, with no conversion fees.

What if I do nothing before April 15, 2025?

No. All conversions will be performed automatically and without any fees.

Will I incur any fees for converting to USDC?

Yes. Services for compliant stablecoins, including USDC, will continue to operate normally.

Can I still use USDC or other compliant stablecoins after this date?

This change specifically impacts users within the European Economic Area (EEA), which includes all European Union member states and Iceland, Liechtenstein, and Norway.

Which regions are impacted by this change?

If you have additional questions or concerns, please contact our customer support team directly at <a href="mailto:support@tothemoon.com" rel="noreferrer" target="_blank">support@tothemoon.com</a>

Who can I contact if I have further questions?