Cryptocurrency exchange Binance recently announced that it will delist a variety of cryptocurrency stablecoins that do not comply with the provisions of the Cryptocurrency Market Regulation (MiCA) within the European Union (including some countries in the European Economic Area). Cryptocurrency stablecoins that will be delisted include TEDA’s USTD, and other stablecoins include FDUSD, TUSD, USDP, DAI, AEUR, UST, USTC and PAXG.
Binance requires all EU users to submit the above types of cryptocurrency stablecoins before March 31. After March 31, users can deposit or withdraw these cryptocurrency stablecoins, but they can no longer be used for trading purposes.
Although Binance did not mention it, the cryptocurrency trading pairs involved in the above stablecoins, such as BTC/USDT, will definitely be terminated, which may bring a lot of inconvenience to EU users in their daily trading of cryptocurrencies.
However, this is a regulatory requirement and Binance has no choice. Binance said that customs declaration of non-MiCA compliant stablecoins will continue, but in the future, these non-compliant stablecoins can only be converted through Binance and cannot be used for transactions.
The regulatory issues of stablecoins such as USDT have also affected other cryptocurrency exchanges. For example, Coinbase and Crypto.com have also removed stablecoins such as USDT from their shelves, otherwise they may be severely fined by regulatory agencies.
Finally, quantitative traders need to be reminded that at 03:00 UTC on March 31, 2025, all spot trading pair robot services involving the above cryptocurrency stablecoins will also be terminated. It is recommended that quantitative and grid traders actively terminate these transactions in advance to avoid losses caused by fluctuations before the system stops trading.