Top crypto exchange Binance announced on March 3 that it would delist several stablecoins not compliant with MiCA on its platforms used by residents in the European Economic Area (EEA). Topping the list of stablecoins to be removed is USDT, the largest by market capitalization. Other affected stablecoins include FDUSD, TUSD, USDP, DAI, AEUR, UST, USTC, and PAXG.

In a statement announcing the delisting decision, Binance urged users holding these stablecoins to convert them to USDC, EURI, or EUR at their earliest convenience. However, the crypto exchange clarified that EEA users will still be able to deposit or withdraw non-MiCA compliant stablecoins.

“Custody of non-MiCA compliant stablecoins will continue, and you will be able to withdraw or deposit non-MiCA compliant stablecoins at any time,” Binance said.

The statement added that after March 31, EEA-based Binance users will only be able to convert non-compliant stablecoins via Binance Convert.

Binance’s plan to end support for USDT follows similar moves by other major crypto exchanges that have delisted the stablecoin on the grounds that it does not comply with MiCA regulations. As reported by Bitcoin.com News, Coinbase and Crypto.com have also delisted the stablecoin to comply with recently enacted regulations.

In the United States, the Tether-issued stablecoin faces growing pressure as lawmakers consider legislation that could push it out. However, the push for regulations that would make it impossible for overseas-based stablecoin issuers to comply has sparked allegations that Tether’s rivals want USDT blocked in the U.S.

Meanwhile, Binance has encouraged EEA users to proactively switch any Binance Simple Earn and Dual Investment holdings, collateral, and loans under Binance Loans and VIP Loans in non-MiCA compliant stablecoins to other compliant stablecoins before April 1, 2025. The crypto exchange also promised users that it would terminate trading bot services for unauthorized stablecoin spot trading pairs on March 31, 2025, at 03:00 UTC (March 30, 10:00 PM EST).

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