Cryptocurrency exchange Binance has ceased spot trading pairs with Tether USDt in the European Economic Area (EEA) in compliance with the new Markets in Crypto-Assets (MiCA) regulation.
Reasons for Delisting
Binance has increased compliance measures with the new MiCA regulations, which require delisting trading pairs with non-compliant tokens. This decision aligns with the plan revealed back in March.
Situation on Other Exchanges
Binance is not the only exchange removing spot trading with these pairs. Other exchanges, including Kraken, are taking similar steps. Kraken restricted USDT transactions to sell-only mode for the EEA since March 24.
Conditions for Token Custody
Despite ceasing spot trading, Binance and other exchanges continue to offer users custody and trading on perpetual contracts with these tokens, as allowed by MiCA.
The changes in Binance's policy highlight a significant adaptation of cryptocurrency platforms to MiCA's demands, affecting both user strategies and the wider market.
