{"id":10524,"date":"2025-04-01T10:50:41","date_gmt":"2025-04-01T08:50:41","guid":{"rendered":"https:\/\/wsj-crypto.com\/?p=10524"},"modified":"2025-04-01T10:50:41","modified_gmt":"2025-04-01T08:50:41","slug":"binance-halts-tether-usdt-trading-in-europe-to-align-with-mica-regulations","status":"publish","type":"post","link":"https:\/\/wsj-crypto.com\/index.php\/2025\/04\/01\/binance-halts-tether-usdt-trading-in-europe-to-align-with-mica-regulations\/","title":{"rendered":"Binance Halts Tether USDT Trading in Europe to Align with MiCA Regulations"},"content":{"rendered":"

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Binance has ceased spot trading pairs with Tether\u2019s USDt within the European Economic Area (EEA) to adhere to the Markets in Crypto-Assets Regulation (MiCA).<\/p>\n

The cryptocurrency exchange Binance has removed spot trading pairs for multiple tokens that do not comply with MiCA regulations in the EEA, following a strategy revealed in early March<\/a>, as reported by Cointelegraph.<\/p>\n

Although spot trading pairs for tokens like USDt (USDT<\/a>) have been removed from Binance, users in the EEA can still hold<\/a> the impacted tokens and trade them via perpetual contracts<\/a>.<\/p>\n

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USDT remains available for perpetual trading on Binance. Source: Binance<\/em><\/p>\n<\/figcaption><\/figure>\n

As per Binance’s previous announcement, the removal of spot trading pairs for tokens not compliant with MiCA was scheduled to occur by March 31, aligning with a local mandate to eliminate such tokens by the end of the first quarter of 2025.<\/p>\n

Delistings by other exchanges in EEA<\/h2>\n

Binance is not the sole cryptocurrency exchange that is removing non-MiCA-compliant tokens for spot trading in the EEA.<\/p>\n

Other exchanges, including Kraken, have also delisted spot trading pairs for tokens such as USDT within the EEA following announcements made in February<\/a>.<\/p>\n

According to a notice on Kraken’s website, the exchange limited USDT to sell-only mode in the EEA as of March 24. As of now, the platform does not permit its EEA users to purchase the impacted tokens.<\/p>\n

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Kraken imposed a sell-only restriction on USDT in the EEA on March 24. Source: Kraken<\/em><\/p>\n<\/figcaption><\/figure>\n

In addition to other non-MiCA-compliant tokens, Binance has also removed spot trading pairs for Dai (DAI<\/a>), First Digital USD (FDUSD<\/a>), TrueUSD (TUSD<\/a>), Pax Dollar (USDP<\/a>), Anchored Euro (AEUR), TerraUSD (UST), TerraClassicUSD (USTC<\/a>) and PAX Gold (PAXG<\/a>).<\/p>\n

Related: <\/strong><\/em>Tether acquires 30% stake in Italian media entity Be Water<\/strong><\/em><\/a><\/p>\n

Kraken\u2019s delisting plan in the EEA was limited to five tokens: USDT, PayPal USD (PYUSD<\/a>), Tether EURt (EURT), TrueUSD, and TerraClassicUSD.<\/p>\n

ESMA does not restrict custody of non-MiCA-compliant tokens<\/h2>\n

Binance and Kraken\u2019s decision to uphold custody services for non-MiCA-compliant tokens is in agreement with a previous update from MiCA compliance regulators.<\/p>\n

On March 5, a spokesperson for the ESMA informed Cointelegraph that custody and transfer services for non-MiCA-compliant stablecoins do not contravene the new European cryptocurrency regulations<\/a>. <\/p>\n

Conversely, the same regulatory body previously advised<\/a> European crypto asset services providers to cease all transactions involving the concerned tokens post-March 31, causing a degree of confusion regarding MiCA stipulations.<\/p>\n

Magazine: <\/strong><\/em>How crypto regulations are evolving globally by 2025<\/strong><\/em><\/a><\/p>\n