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⚠️⚠️ Binance will remove USDT and 8 other stablecoins that do not comply with MiCA⚠️⚠️
Binance, the world's largest bitcoin (BTC) and cryptocurrency exchange, will remove support for USD Tether (USDT) and eight other stablecoins that do not comply with the MiCA regulation for users in the European Economic Area (EEA).
The measure, announced in a blog post, responds to the latest guidelines from European Union (EU) authorities regarding stablecoins.
The exchange states that it is seeking regulatory requirements, which implies changes in the availability of non-compliant stablecoins with MiCA in the EEA. Those affected include USDT, FDUSD, TUSD, USDP, DAI, AEUR, UST, USTC, and PAXG.
Binance recommends that EU users convert their holdings in these coins to USD Coin (USDC) or EURI as soon as possible. USDC is the stablecoin issued by Circle, and it is currently the second most valued stable cryptocurrency in the market. Just in 2024, this asset surpassed USDT in terms of circulating coins, as reported by CriptoNoticias. EURI, on the other hand, is a stablecoin developed by Banking Circle SA, a financial institution based in Luxembourg.
The removal of USDT, issued by Tether Limited, as well as the other 8 mentioned stablecoins, will take effect on March 31, 2025, at 11:59 PM UTC. From that moment, Binance will restrict trading pairs in spot with stablecoins that do not comply with MiCA for users in the EEA. However, the exchange specifies that the sale of remaining holdings of these stablecoins will still be available through Binance Convert.
In addition, all trading orders will be automatically canceled after the cessation of operations in each affected pair. Trading bot services for those pairs in spot will also be suspended.
Binance, the world's largest bitcoin (BTC) and cryptocurrency exchange, will remove support for USD Tether (USDT) and eight other stablecoins that do not comply with the MiCA regulation for users in the European Economic Area (EEA).
The measure, announced in a blog post, responds to the latest guidelines from European Union (EU) authorities regarding stablecoins.
The exchange states that it is seeking regulatory requirements, which implies changes in the availability of non-compliant stablecoins with MiCA in the EEA. Those affected include USDT, FDUSD, TUSD, USDP, DAI, AEUR, UST, USTC, and PAXG.
Binance recommends that EU users convert their holdings in these coins to USD Coin (USDC) or EURI as soon as possible. USDC is the stablecoin issued by Circle, and it is currently the second most valued stable cryptocurrency in the market. Just in 2024, this asset surpassed USDT in terms of circulating coins, as reported by CriptoNoticias. EURI, on the other hand, is a stablecoin developed by Banking Circle SA, a financial institution based in Luxembourg.
The removal of USDT, issued by Tether Limited, as well as the other 8 mentioned stablecoins, will take effect on March 31, 2025, at 11:59 PM UTC. From that moment, Binance will restrict trading pairs in spot with stablecoins that do not comply with MiCA for users in the EEA. However, the exchange specifies that the sale of remaining holdings of these stablecoins will still be available through Binance Convert.
In addition, all trading orders will be automatically canceled after the cessation of operations in each affected pair. Trading bot services for those pairs in spot will also be suspended.
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