Binance exchange announced that it would delist stablecoins from the European region within the framework of MiCA decisions. Among these stablecoins is $USTC.
The Terra Classic community reached out to Binance to prevent this and requested the reversal of the delisting decision, asserting that the stability of #USTC has been compromised.
The Binance exchange is asking for evidence regarding this matter. A voting process has been initiated on the Terra Classic chain for this purpose. It is requested that CoinMarketCap remove the "Stablecoin" labels from USTC and SRD. CoinMarketCap has made it mandatory to conduct a governance vote on this issue.
If the labels are removed as a result of this vote, $USTC may be saved from delisting. We understand that the Binance exchange is also taking a solution-oriented approach in this matter. We will follow what the $LUNC validators will decide on this issue.
"The stability of USTC has been compromised, and there would be no harm in removing the labels. These labels can be added back later."
