On the last day of March, European users of the crypto exchange Binance Nine of the largest stablecoins will become unavailable: USDT, FDUSD, TUSD, USDP, DAI, AEUR, UST, USTC, and PAXG. The reason for their delisting is non-compliance with the requirements of the Markets in Cryptoassets Regulation (MiCA).
Users in the European Economic Area will still be able to hold and deposit non-MiCA compliant stablecoins, convert them to MiCA compliant stablecoins, or withdraw them. However, they will not be able to use these stablecoins for any other products or services on our platform, the announcement said.
The exchange has already advised its EU clients to convert the listed assets into alternatives such as USDC, EURI or fiat currencies. Binance stated that they will continue to support the storage of stablecoins even after delisting.
Non-MiCA compliant stablecoins will continue to be held, and you will be able to withdraw or deposit non-MiCA compliant assets at any time, the crypto exchange said in an announcement.
As you know, in January, the European Securities and Markets Authority (ESMA), the key supervisory body monitoring compliance with MiCA, called on European crypto service providers to completely delist non-compliant assets by March 31, 2025.
By March 31, there should be no trace of USDT left, even in “sell only” mode, he wrote then. Member of the MiCA Crypto Alliance Technical Committee Juan Ignacio Ibañez.