Binance Delisting Non-MiCA Stablecoins in Europe USDT, DAI, PAXG & More
Binance is one of the largest cryptocurrency exchanges in the world. Announced plan Nine stabilizations are carried out in Europe by March 31 to comply with new EU regulations. Although users in the EEA will no longer be able to trade these Stablecoins, binance will continue to provide custody and conversion services.
Binance pushes 9 non-MICA Stablecoins
The EU’s market in crypto assets (MICA) regulations aims to provide stricter oversight of cryptocurrencies, especially stablecoins. To this end, Binance announced its platform changes to users of the European Economic Area (EEA).
Starting March 31, Binance will limit non-MICA-compliant stable transactions, affecting the following major assets:
- USDT (Tether)
- fdusd
- Tas
- USDP USDD
- Wear
- Aeur
- ust
- USTC
- paxg
After this date, spot trading pairs involving these Stablecoins will be completely removed, meaning users in the EEA will no longer be able to buy or sell them through Binance’s spot market.
What happens to existing Stablecoin Holdings?
Although trading will be restricted, Binance assured users that they can still hold, convert and withdraw their non-compliant stable shares.
To comply with regulations, Binance encourages users to convert these assets into approved alternatives, such as USDC (issued by Circle) or fiat currencies such as Euroite (Euri) or Euro. These Stablecoins meet the requirements of mica and will be available for transactions on the platform.
Binance also advises users to take positive steps to transition to Binance to make money, double investments and Binance loans from non-compliant Stablecoins to Mica loans before the March 31 deadline.
Binance’s compliance work
The decision to align these stabilizers with Binance’s broader strategy to comply with mica regulations. The exchange has been adjusting operations across Europe, including its deposit and withdrawal procedures in Poland earlier this year.
Binance is still working to obtain a mica license, which will allow it to continue to fully comply with the new regulatory framework.
