Binance to Delist Tether and Other Stablecoins for EEA Users, Due to MiCA Regulations
The post Binance to Delist Tether and Other Stablecoins for EEA Users, Due to MiCA Regulations appeared on BitcoinEthereumNews.com.
Binance, the biggest centralized crypto exchange in the world, will delist nine stablecoins for those in the European Economic Area (EEA), including coins issued by Tether, as they are not compliant with the EU’s Markets in Crypto Assets (MiCA) regulations. Starting March 31, the assets affected will be USDT, FDUSD, TUSD, USDP, DAI, AEUR, UST, USTC and PAXG, the crypto exchange said in an announcment. Binance will continue to allow anyone to withdraw or deposit these coins but encourages EEA users to convert any non-MiCA compliant stablecoins, as some features will be restricted for those tokens. Stablecoins are cryptocurrencies that attempt to remain pegged to an asset’s price, which can include fiat currencies like the dollar, as well as other assets like gold or silver. Often, this is done by holding a reserve of the asset in which the token is pegged to. MiCA was hailed as the most significant crypto-specific regulation when it first went into law in 2023, as it looked to provide regulatory clarity for digital assets to users in the European Economic Area—the 27 member states of the European Union plus Iceland, Liechtenstein, and Norway. “Since the MiCA came into force fully from 2025, only MiCA licensed issuers can issue stablecoins to the residents in the EEA,” Niko Demchuk, a lawyer at compliance firm AMLBot, told Decrypt. “There are companies that have been already licensed and authorised to issue stablecoins in the EEA. For example, Circle is authorised to issue EURC and USDC.” This explains why Circle-issued coins like USDC—the second largest stablecoin by market cap, according to CoinGecko—were not delisted by Binance. For this reason, other centralized exchanges have delisted non-compliant stablecoins, such as Coinbase Europe, which delisted Tether back in December. “They will need to open a company in the EEA and apply for…
Filed under: News - @ March 3, 2025 11:25 pm