Binance is ready to delist any non compliant stablecoin trading pairs to users in the European Economic Area (EEA) as part of their compliance with the European Unions Markets in Crypto Assets (MiCA) regulations.

Starting March 31, nine stablecoins including Tether (USDT), First Digital USD (FDUSD), TrueUSD (TUSD), Pax Dollar (USDP), Dai (DAI), Anchored Euro (AEUR), TerraUSD (UST), TerraClassicUSD (USTC) and Paxos Gold (PAXG) will be impacted by a change.

It is in response to the latest guidance issued by the EU on stablecoin issuers, which sets out stricter regulatory standards. Binance has stated that EEA users will still be able to deposit, withdraw or convert such assets using Binance Convert after they can no longer be traded by EEA users. And the custody services for these stablecoins will still be available on the platform.

MiCA Regulations Strengthen Crypto Market Integrity

In order to ensure a smooth transition, Binance has also urged users to exchange their holdings to MiCA compliant alternatives like Circler’s USD Coin (USDC) or Eurite Euro Token (EURI) or Fiat Currencies (Euro (EUR)). But these pairs will be unscathed and ready to trade.

Other exchangers, namely Binance, are not the only ones to have taken certain steps to comply with MiCA. Meanwhile, other major cryptocurrency exchanges, such as Coinbase, Kraken and Crypto.com, have also recently announced their intentions to delist non-compliant stablecoins for European users in regard to the new regulatory framework.

The purpose of MiCA is to create a thorough legal framework of crypto assets across the EU, which included full entering into force on December 30, 2024. Stablecoin issuers and trading platforms are subject to stricter rules that seek to improve market integrity and increased the protection of consumers.

But the implementation of MiCA is not yet complete. Legal experts at Hogan Lovells meanwhile pointed out that there are still no finalised Level 2 or Level 3 measures such as delegated and implementing acts and additional guidelines.

With Binance’s move, the crypto industry is adapting to the new regulatory landscape and this is becoming a broader shift in favor of compliance in the EU market so that it doesn’t cut off Binance’s European users’ access to regulated digital assets.