Binance
$19.92B
will stop offering several stablecoins to users in the European Economic Area (EEA) to comply with the European Union’s Markets in Crypto-Assets Regulation (MiCA).
The exchange announced on March 3 that trading pairs involving nine stablecoins will no longer be available to EEA users after March 31, 2025.
The complete list of stablecoins being removed includes Tether USDT
$1.00
, Dai
$1.00
, TrueUSD
$0.9999
, Pax Dollar
$1.01
, PAX Gold
$2,902.14
, TerraUSD
$0.0134
, TerraClassicUSD
$0.0133
, First Digital USD, and Anchored Euro.
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Although these stablecoins will be removed from spot trading, Binance has assured users that they will still be able to sell them through Binance Convert. The exchange has also confirmed that stablecoins that meet MiCA’s requirements, such as USD Coin
$1.00
and Eurite, will remain available.
Users are encouraged to convert their holdings into MiCA-compliant stablecoins or fiat currencies like the euro before the changes take effect. Despite the trading restrictions, Binance will still allow deposits and withdrawals for the affected stablecoins.
The company has stated:
Custody of non-MiCA-compliant stablecoins will continue, and you will be able to withdraw or deposit non-MiCA-compliant stablecoins at any time.
While users will still be able to hold and transfer these assets, it is unclear whether Binance’s approach fully complies with MiCA regulations.
The European Securities and Markets Authority (ESMA) has advised crypto service providers in the region to remove all non-MiCA stablecoins by March 31, 2025. Some regulators, such as MiCA Crypto Alliance’s Juan Ignacio Ibañez, have emphasized that tokens like USDT should be entirely removed, stating, “No trace of USDT should remain, not even in ‘sell-only’ mode, by March 31”.
Recently, Nigeria filed a lawsuit against Binance, seeking $8.15 billion in damages. What happened? Read the full story.
Having completed a Master’s degree in Economics, Politics, and Cultures of the East Asia region, Aaron has written scientific papers analyzing the differences between Western and Collective forms of capitalism in the post-World War II era.With close to a decade of experience in the FinTech industry, Aaron understands all of the biggest issues and struggles that crypto enthusiasts face. He’s a passionate analyst who is concerned with data-driven and fact-based content, as well as that which speaks to both Web3 natives and industry newcomers.Aaron is the go-to person for everything and anything related to digital currencies. With a huge passion for blockchain & Web3 education, Aaron strives to transform the space as we know it, and make it more approachable to complete beginners.Aaron has been quoted by multiple established outlets, and is a published author himself. Even during his free time, he enjoys researching the market trends, and looking for the next supernova.
