Binance will remove USDT and other non-compliant MiCA stablecoins
The Binance exchange will cease support for nine stablecoins within the European Economic Area (EEA). The decision is related to the need to comply with MiCA requirements.
On March 31, the platform will delist trading pairs with 'stablecoins':
USDT;
DAI;
TUSD;
USDP;
FDUSD;
AEUR;
UST;
USTC;
PAXG.
However, their storage, deposits, withdrawals, and conversions will remain available, a Binance representative said in a comment to Cointelegraph.
“However, [users] will not be able to use these stablecoins for any other products and services on our platform,” he added.
The Binance team recommends EEA users convert non-compliant 'stablecoins' to compatible alternatives such as USDC or EURI or withdraw them to fiat.
The delisting is linked to a recommendation from the European Securities and Markets Authority. In January, the regulator stated that crypto assets not compliant with MiCA should be excluded from the market by March 31.
As a reminder, as of February, ten companies received approval to issue stablecoins in the EEA. The list includes Circle, Crypto.com, and Societe Generale.