As Europe prepares for a heavy enforcement of the Markets in Crypto Assets (MiCA) law, crypto exchanges are moving to ensure compliance. Binance, the biggest crypto exchange by market cap, has announced plans to delist stablecoins for European users. The trading platform named…
The exchange, however, clarified that stablecoins like USDC would remain available. Circle’s USDC is widely considered MiCA-compliant, unlike its rival, USDT. Binance has encouraged EU users to convert their USDT or any non-MiCA compliant stablecoins to USDC or other accepted alternatives.
Meanwhile, Binance, like other exchanges, is working towards being fully compliant with EU policies. The crypto platform recently faced troubles with regulators in France. The country’s authorities accused Binance of illegal operations, as well as aiding money laundering and criminal activities.
Binance has yet to receive a MiCA license. The trading platform has already adjusted its deposit and withdrawal system in Poland to be MiCA-friendly.
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🚫 Binance Delists USDT Pairs On March 31, Binance will remove trading pairs with USDT, FDUSD, TUSD, USDP, DAI, AEUR, UST, USTC, and PAXG as they do not comply with MiCA regulations. 💱 Only USDC and EURI will remain, so EU users will need to convert their stablecoins into Show more
💥BREAKING: Binance under investigation for money laundering, tax fraud, and drug trafficking in France - Reuters 🤯
