Binance has announced its intention to delist any non-MiCA-compliant stablecoin trading pairs for consumers in the European Economic Area (EEA) by March 31, 2025.
This move is a reaction to the European Union’s Markets in Crypto-Assets (MiCA) regulation, which seeks to standardize the crypto sector and enhance consumer safety across the bloc.
The affected stablecoins are Tether (USDT), First Digital USD (FDUSD), TrueUSD (TUSD), Pax Dollar (USDP), Dai (DAI), Anchored Euro (AEUR), TerraUSD (UST), TerraClassicUSD (USTC), and PAX Gold (PAXG).
How Binance Plans to Roll Out Stablecoins Delisting
EEA customers will be free to continue trading non-MiCA-compliant stablecoins until March 31, 2025 (23:59 UTC).
Starting March 27, 2025, margin trading pairs involving these stablecoins will be immediately delisted, and the remaining assets will be converted into Circle’s USDC.
All impacted spot trading pairs will be fully delisted, and any pending orders will be canceled within 48 hours following March 31, 2025.
While the delisting will have a significant effect on trading options for EEA users, custody of non-MiCA-compliant stablecoins will continue. This means users can deposit and withdraw these assets at any time.
Despite the above provision, European Economic Area customers are advised to immediately convert their holdings to MiCA-compliant options, such as USDC, EURI, or EUR, as soon as possible.
Furthermore, Binance is offering various promotions to ease the transition:
- Zero-fee trading for selected USDC pairs
- Taker fee discounts for USDC spot and margin trading
- Attractive annual percentage yields (APY) on USDC and EURI flexible products
Given that other major exchanges, such as Coinbase and Crypto.com, have also announced intentions to delist non-compliant stablecoins in Europe, this action is not unique.
MiCA Regulation Uncertainty
MiCA’s perspective on stablecoins remains unclear because these assets typically operate via smart contracts without a traditional ‘physical’ issuer who qualifies for a license. The ambiguity could limit the available stablecoin options for European traders and investors.
Moreover, the rapid implementation of the rules could lead to market disruption.
Although the variety of stablecoin options might see a short-term drop, the shift toward compliant assets might finally result in more stability and confidence in the crypto market.
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