Binance Delists Nine Stablecoins in EEA Amid MiCA Compliance
1min read Binance, the world's largest centralized cryptocurrency exchange, has announced its decision to delist nine stablecoins for users in the European Economic Area (EEA) due to non-compliance with the EU's Markets in Crypto Assets (MiCA) regulations. Starting March 31, the affected assets will include USDT, FDUSD, TUSD, USDP, DAI, AEUR, UST, USTC, and PAXG. While Binance will continue to allow withdrawals and deposits of these coins, it encourages EEA users to convert any non-MiCA compliant stablecoins, as some features will be restricted for those tokens.
Stablecoins are a type of cryptocurrency that aims to maintain a stable value, often pegged to the price of a fiat currency or other assets like gold or silver. MiCA, the most significant crypto-specific regulation to date, was designed to provide regulatory clarity for digital assets within the EEA. Since its full implementation in 2025, only MiCA-licensed issuers can issue stablecoins to residents in the EEA. This explains why Circle-issued coins like USDC, which is MiCA-compliant, were not delisted by Binance. Other centralized exchanges, such as coinbase Europe, have also delisted non-compliant stablecoins like Tether in the past.
The news comes as Tether, the issuer of USDT, appointed a new Chief Financial Officer, Simon McWilliams, in a move towards its first full financial audit. Tether has faced controversy in the past due to concerns about its transparency and reserve backing. In 2021, the firm paid $18.5 million in fines and was required to stop all trading activity in New York as part of a settlement with the NYAG. Additionally, it was fined $41 million by the Commodity Futures Trading Commission over "untrue or misleading statements" relating to its reserves. Tether has since provided quarterly attestations and transparency reports to demonstrate its compliance and has expressed openness to being audited by one of the "Big Four" accounting firms.
