Binance plans to delete the USDT from Tether to the European Union, to comply with MICA. European users will continue to withdraw assets until midnight on March 31.
Most of the main stock exchanges deleted Usdt as soon as Mika has passed, but the transactions that only sell sales transactions are still very very until the end of the first quarter of 2025. Circle may have an opportunity to unify its share in the European Union market.
Binance spoils the rope due to mica
Mika, the new comprehensive Stablecoin legislation of the European Union, finally gets Coinbase to meet more of its requirements. Before starting, the stock exchange participated in some pre -emptive compliance, which limits the unorganized Stablecoins of European Union users.
However, Mika entered in December, and Binance is only now Agreement To delete usdt tether.
“We are making changes to the availability of Stablecoins compatible with MICA in the European Economic Zone to comply with regulatory requirements. The affected assets are USDT, FDUSD, TUSD, USDP, Dai, AEUR, UST, USTC and Paxg. Binance will restrict the availability of immediate trading pairs with non -compatible stablecoins with users. EEA.
Usdt of Tether is the largest Stablecoin in the world, but MICA requirements have caused many troubles. Most of the stock exchanges deleted the origin in December, causing a decrease of $ 2 billion in the market ceiling at USDT.
Bennes, however, the trend won by products still in the European Union. It still allows users to sell their codes, but this job is about to get away.
The advertisement cites the European Union guidance statement Posted in January. However, most of the previous deletions occurred before Delivery dateAnd it is March 31. Binance pushes around the clock for as long as possible, and it will delete the USDT from Tether one minute before midnight on that day.
Although Tether claims that MICA had no long -term impact, the company has made active preparations several months ago. At the present time, it is not clear how much pain causes the debris of this deletion. If there is nothing else, this is not an upward development.
Meanwhile, it is clear that the biggest competitor in Tether is to benefit from the European Union market. Last July, Circle has already expected that its Stablecoin could take some of the Tether market share in the European Union after MICA.
In December, it also prepared public preparations to seize this new area and compete with the smaller Stablecoin exporters like Ripple.
Ultimately, the selection of Binance is full of bad news for the lend, which may be in an uncomfortable moment. Indeed, Coinbase has announced that it will delete USDT if the United States government is implementing Stablecoin lines similar to MICA.
The company has constantly refused an independent review of its reserves, which will be an integral part of future compliance.
Disintegration
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