Binance is making a significant move to comply with the European Union’s Markets in Crypto-Assets (MiCA) regulations by delisting all non-compliant stablecoin trading pairs for users in the European Economic Area (EEA). The change, set to take effect on March 31, will impact nine stablecoins, the exchange announced on Monday.
The affected stablecoins include Tether (USDT), First Digital USD (FDUSD), TrueUSD (TUSD), Pax Dollar (USDP), Dai (DAI), Anchored Euro (AEUR), TerraUSD (UST), TerraClassicUSD (USTC), and Paxos Gold (PAXG). This decision comes in response to the EU’s regulatory guidance that enforces MiCA’s stringent stablecoin rules, requiring issuers to meet compliance standards.
Despite the delisting, Binance reassured EEA users that they would still be able to deposit, withdraw, and convert the impacted stablecoins through Binance Convert. Additionally, custody of non-MiCA stablecoins will remain available on the platform. However, trading activities involving these stablecoins will no longer be possible.
To align with MiCA regulations, Binance is promoting MiCA-compliant alternatives such as Circle’s USD Coin (USDC) and Eurite Euro Token (EURI), alongside fiat pairs like the euro (EUR), which remain unaffected. The exchange is encouraging EEA users to transition their holdings to these compliant assets as soon as possible.
Broader Industry Impact
Binance is not the only crypto exchange adapting to MiCA’s regulatory framework. Other major platforms, including Coinbase, Kraken, and Crypto.com, have also announced plans to delist non-compliant stablecoins for their European users.
MiCA, which came into full effect on December 30, 2024, aims to establish a comprehensive legal framework for crypto-assets within the EU. The regulation is designed to enhance consumer protection, promote market integrity, and create uniformity across the crypto industry. However, the implementation of MiCA remains an ongoing process, with additional measures and guidelines still being finalized.
“Although MiCA has been fully applicable since December 30, 2024, the process of finalizing Level 2 and Level 3 measures (e.g., delegated and implementing acts, as well as guidelines that outline compliance obligations in greater detail) is ongoing,” law firm Hogan Lovells stated last month.
With the crypto landscape evolving rapidly under new regulations, Binance’s latest move underscores the growing pressure on exchanges to comply with emerging global frameworks while maintaining service continuity for their users.
