$USDC

UPDATE ON STABLECOIN WITHDRAWAL 31/03

The cryptocurrency exchange Binance has announced the withdrawal from circulation for users in the European Economic Area (EEA) of nine stablecoins, including Tether's USDT. The stablecoins subject to withdrawal do not meet European regulations on cryptocurrency markets (Regulation on Markets in Crypto-assets - MiCA). However, Binance has agreed to support deposits and withdrawals of the stablecoins after the withdrawal. The oversight of compliance with MiCA in Europe is entrusted to the European Securities and Markets Authority (ESMA). In light of the situation, ESMA commented on the status of such stablecoins. The regulator indicated that the custody and transfer of tokens that do not meet the MiCA requirements "are not clearly prohibited." Therefore, according to ESMA, the provision of custody and transfer services for these stablecoins does not violate the new European regulations on cryptocurrencies.