Nikolas Sargeant
Binance has revealed it will delist nine stablecoins, including USDT and DAI, from its platform in the European Economic Area (EEA) to comply with the new Markets in Crypto-Assets Regulation (MiCA). The delisting is set to take effect on March 31. While these stablecoins will no longer be available for spot trading, Binance users in the EEA will still be able to use the exchange’s Convert feature to trade them into other compliant stablecoins like USDC or EURI, or fiat currencies such as the euro.
This move follows similar actions taken last summer when Binance began restricting access to unregulated stablecoins in the EU ahead of the MiCA regulations. At that time, Binance indicated that only stablecoins issued by regulated companies would be allowed on its platform. This step, which was part of Binance’s preparation for the new regulatory framework, left some stablecoins in limbo. Although specific stablecoins were not named, it highlighted the growing impact of MiCA regulations on the European stablecoin market.
MiCA regulations are designed to ensure greater oversight and consumer protection within the European crypto market. With the delisting of non-compliant stablecoins, Binance is now taking further steps to align with these regulations. Importantly, users will still be able to withdraw or deposit their non-compliant stablecoins into Binance’s custody service at any time, though they will no longer be able to trade them on the platform.
