Cryptocurrency exchange Binance will cease support for nine stablecoins in the European Economic Area (EEA) due to the need to comply with MiCA regulations.
On March 31, the platform will delist spot trading pairs for the following stablecoins:
- USDT
- DAI
- TUSD
- USDP
- FDUSD
- AEUR
- UST
- USTC
- PAXG
However, deposits, storage, withdrawals, and conversions will remain available, a Binance representative told Cointelegraph.
“However, users will not be able to use these stablecoins for any other products or services on our platform,” the spokesperson added.
The Binance team recommends that EEA users convert non-compliant stablecoins into MiCA-compliant alternatives such as USDC or EURI, or withdraw them to fiat.
The delisting follows a recommendation from the European Securities and Markets Authority (ESMA). In January, the regulator stated that crypto assets not compliant with MiCA must be removed from the market by March 31.
As a reminder, as of February, ten companies had received approval to issue stablecoins in the EEA, including Circle, Crypto.com, and Societe Generale.
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