Cryptocurrency exchange Binance has removed spot trading pairs involving Tether’s USDT and other non-compliant tokens in the European Economic Area (EEA), in a move to align with the European Union’s Markets in Crypto-Assets Regulation (MiCA). The decision follows an earlier announcement from Binance outlining plans to delist non-MiCA-compliant assets by March 31, 2025.
While EEA users can no longer trade these tokens on the spot market, they can still custody affected assets and access USDT through perpetual contracts. Binance is not alone in taking such steps. Kraken also restricted USDT to sell-only mode in the EEA starting March 24 and has blocked purchases of the token in the region.
In addition to USDT, Binance has delisted spot trading pairs for several other tokens including Dai (DAI), First Digital USD (FDUSD), TrueUSD (TUSD), Pax Dollar (USDP), Anchored Euro (AEUR), TerraUSD (UST), TerraClassicUSD (USTC), and PAX Gold (PAXG). Kraken’s delisting plan targets a more limited set of assets, including PYUSD and EURT.
The move comes amid conflicting guidance from European regulators. While the European Securities and Markets Authority (ESMA) has stated that custodial and transfer services for non-MiCA-compliant stablecoins remain permitted, it also advised crypto asset service providers in the EU to cease transactions involving these tokens after March 31. This dual stance has contributed to uncertainty over MiCA’s practical implications.