Binance Halts USDT Spot Trading in Europe
Binance and Kraken Delist USDT and Other Stablecoins in Europe
Binance has stopped spot trading pairs involving Tether's USDT (Tether) in the European Economic Area (EEA) to comply with the Markets in Crypto-Assets Regulation (MiCA). This move follows a previously announced plan to delist non-MiCA-compliant tokens by March 31, 2025.
While spot trading is unavailable, EEA users can still hold and trade USDT through perpetual contracts on Binance. Other exchanges, such as Kraken, have implemented similar delistings, restricting USDT to sell-only mode for EEA users.
Affected Tokens and Exchanges
- Binance: USDT, DAI, FDUSD, TUSD, USDP, AEUR, UST, USTC, PAXG
- Kraken: USDT, PYUSD, EURT, TUSD, USTC
The European Securities and Markets Authority (ESMA) clarified that custody services for non-MiCA-compliant stablecoins don't violate MiCA. However, they previously advised halting transactions involving these tokens after March 31, causing some confusion.
Impact on European Users
The delistings primarily affect spot trading. Users can still maintain custody of their assets on these platforms. However, buying and selling these specific stablecoins directly within the EEA is temporarily limited.
Codeum's Role in Blockchain Security
Navigating the complexities of regulations like MiCA requires a strong understanding of blockchain security. Codeum offers comprehensive services, including smart contract audits, KYC verification, and custom smart contract and DApp development, to help projects navigate these evolving landscapes. We also provide tokenomics and security consultations, and partner with launchpads and crypto agencies to ensure robust security measures are in place.
Conclusion
The delisting of USDT and other stablecoins highlights the evolving regulatory landscape for crypto in Europe. Staying informed about MiCA and its implications is crucial for both exchanges and users. Codeum remains dedicated to providing the security solutions needed to thrive in this dynamic environment.