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Cryptocurrency exchange Binance has delisted spot trading pairs with Tether’s USDt and other non-compliant tokens in the European Economic Area (EEA) to align with the newly implemented Markets in Crypto-Assets Regulation (MiCA). This move comes as part of a broader effort to comply with MiCA’s regulations, which require exchanges to remove tokens that do not meet the regulatory framework by March 31, 2025.
While spot trading pairs for USDt and other non-MiCA-compliant assets such as Dai (DAI), TrueUSD (TUSD), and PAX Gold (PAXG) have been delisted, Binance users in the EEA will still be able to custody these tokens. However, they can only trade them in perpetual contracts, not spot markets. This change follows Binance’s early March disclosure regarding the delisting plan, which coincides with MiCA’s timeline for token removal.
Binance is not alone in adjusting to MiCA requirements. Kraken, another prominent exchange, has also restricted spot trading pairs for USDt and several other tokens. Kraken placed USDt in “sell-only” mode for its EEA users in late March, halting any new purchases of these tokens. These actions demonstrate a growing trend among crypto exchanges operating in Europe to comply with MiCA, which aims to bring stricter oversight to the digital asset sector.
Despite these delistings, both Binance and Kraken will continue offering custody services for non-MiCA-compliant tokens, a stance that aligns with guidance from the European Securities and Markets Authority (ESMA). The regulator has clarified that custody and transfer services for these tokens are not in violation of MiCA, although it previously urged European crypto service providers to halt all transactions involving such assets after March 31.
Also Read: Russia Using Bitcoin, USDT for Oil Trade with China and India, Despite Sanctions: Report
As MiCA continues to reshape the regulatory landscape for cryptocurrencies in Europe, exchanges like Binance and Kraken are adapting to ensure compliance while offering limited services for tokens affected by the new rules.
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses.
I’m your translator between the financial Old World and the new frontier of crypto. After a career demystifying economics and markets, I enjoy elucidating crypto – from investment risks to earth-shaking potential. Let’s explore!
