Binance to Delete Usdt, FDUSD and others for European Union traders on the laws of mica – Cryptomode
Binance, the leading company in the exchange of cryptocurrencies, has announced that it will delete a group of Stablecoins for users in the European Economic Zone (EA) on March 31, in response to the upcoming markets of the European Union in encrypted couples (MICA).
the Move It affects nine different stablecoins including USDT and FDUSD of Tether, as well as other assets, including Paxos Gold (Paxg), a cryptocurrency coin aimed at tracking the immediate price of the precious metal.
While EA users will retain the ability to deposit, withdraw and transfer the affected Stablecooins through the Binance conversion service, the direct trading of these assets will be stopped.
The incompatible stablecoins custody services will also remain available, according to the stock market, which means that users will be able to withdraw these distinctive symbols and their deposits. This step affects Stablecoins that does not meet the strict compliance standards set by MICA, the historical European Union framework designed to organize encrypted currencies.
Binance also made it clear that Stablecoins compatible with mica, URI, EURI and FIAT pairs.
Binance calls on MICA instructions in the European Union
This decision follows the European Union The last publishing One of the organizational guidelines aims to clarify the implementation of the mica stablecoin rulings. These rules stipulate that Stablecoin’s exporters commit to strict standards to ensure consumer protection and market stability.
Binance is not alone in adapting its European strategy to comply with the advanced organizational scene. The main exchanges including Coinbase, Kaken and Crypto.com have also announced similar measures to delete Stablecoins that do not correspond to Mika’s standards for the European Users Base in a major blow to the leadership of Tether Nissuer.
Mika, who became fully applicable in December 2024, aims to create a comprehensive legal framework for encrypted work throughout the European Union. While the comprehensive framework is valid, the exact details of the implementation are still under preparation.
