Binance to Delist Tether’s USDT to Meet MiCA Compliance
Binance plans to push Tether’s USDT to EU customers to comply with MICA. European users can still withdraw assets until midnight on March 31.
After MICA passed, most major exchanges would make USDT stand out, but until the end of Q1 2025, only the sell-offs were still among the grandfathers. Circle may have a chance to further consolidate its EU market share.
Binance separates and binds due to mica
Mica, EU’s comprehensive new stability legislationfinally got a common coinbase to meet its more requirements. Before launch, exchange Engage in some positive compliancea stabilizer that restricts EU users from being regulated.
However, mica will take effect in December, and binary is now agree To the USDT of the Dedes tether.
“We are changing the availability of non-MICA-compliant stability in EEA to comply with regulatory requirements. The affected assets are USDT, FDUSD, TUSD, USDP, Wearaeur, usst, usstc and paxg. The company’s statement said Binance will limit the availability of non-MICA-compliant non-MICA-compliant spot trading pairs with EEA users. ” the company statement said.
USDT of the tether It is the largest Stablecoin in the worldbut the requirements of mica cause a lot of trouble. Most communication Promote assets in Decembercausing USDT’s market value to drop by $2 billion.
However, duality reverses this trend through tethering products in the EU. It still allows users to sell their tokens, but the feature is about to disappear.
Announcement quotes the EU guide statement Published in January. However, most of the previous standouts are Deadlinethat’s March 31. Binance pushes the clock as long as possible, which will be Delist Tether’s USDT one minute before midnight of the day.
Although the tether claims Mica has no long-term impact,company Active preparations have been made A few months in advance. At present, it is not clear that the pain of this second-hand body can lead to the tether. If nothing else, it is not bullish development.
Meanwhile, it is clear that Tether’s biggest competitor will take advantage of the EU market. Last July, Circles have been predicted It’s own Stablecoin After mica, it may occupy Tether’s EU market share.
In December Apparently prepared Capture this new territory and Compete with smaller stable issuers Like ripple.
Ultimately, Binance’s featured choice is another bad news for Tether, which can be an uncomfortable moment. Already, plugged together Announced that it will grant USDT If the U.S. government implements mica-type stability regulations.
The company has been rejecting independent reviews of its reserves, which will be an integral part of future compliance.
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