Binance to Restrict Unauthorized Stablecoins in EEA Starting June 30, 2024 Under MiCA Rules

Jun 3, 2024, 04:47 PM

Binance will restrict the availability of unauthorized stablecoins for European Economic Area (EEA) users starting June 30, 2024. This move is in response to the new Markets in Crypto-Assets (MiCA) regulations, which will come into effect on the same date. The MiCA regulations require stablecoin operators to obtain a license from a competent authority of an EU member state and ensure the stability of their tokens. Binance has clarified that it will not delist unauthorized stablecoins on spot markets but will limit their availability on certain products such as Launchpool and Earn. The largest stablecoin, Tether's USDT, is currently not regulated in the EU and will be affected by these changes.