#CryptoRegulation

Binance announced the decision, stating that this step aligns with the latest guidelines from EU authorities regarding stablecoin regulations.

In January, the European Securities and Markets Authority (ESMA) directed all cryptocurrency exchanges to verify whether the assets listed on their platforms comply with MiCA laws.

The EU authority instructed exchanges to identify and halt the trading of tokens that do not comply with MiCA legislation.

According to the guidelines, Binance stated that First Digital USD (FDUSD), Pax Dollar (USDP), Dai (DAI), Anchored Euro (AEUR), TerraUSD (UST), TerraClassicUSD (USTC), TrueUSD (TUSD), Paxos Gold (PAXG) along with Tether will not be available to its users in the EU starting from April 1.

Stablecoins are crypto tokens that are backed by an underlying asset, usually fiat currencies or reserve assets like gold.