#CryptoRegulation #CryptoRegulation

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 issued instructions for exchanges to identify and halt 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 cryptocurrency tokens whose value is backed by an underlying asset, typically fiat currency or reserve assets like gold.