News - Must Binance stop trading stablecoins?

By Mike Hesp

Must Binance stop trading stablecoins?

Exchanges
Stablecoin
Laws and regulations

Binance may have to stop trading stablecoins. The crypto exchange lacks the necessary licenses for the new MiCA regulations.

According to Marina Parthuisot, Binance could be forced to stop trading stablecoins on the crypto exchange next summer.

"We are heading for a delisting of all the stablecoins in Europe on June 30," Binance France's head of legal affairs said in an online statement. "This could have a significant impact on the market in Europe compared to the rest of the world."

The reason for this is the enactment of MiCA regulations regarding stablecoins. Binance indicated that, according to current MiCA regulations, all exchanges in the EU must remove stablecoins from their offerings if the issuers of these stablecoins do not have an EMI license in the EU. So far, the crypto exchange does not have the necessary licenses.

Binance CEO Changpeng Zhao on Twitter: the company has "some partners launching EUR and other stablecoins in a fully compliant manner."

"While we are confident that a constructive solution will be found before the mid-2024 deadline, this could impact the European crypto market and the competitiveness of European crypto exchanges in a global market," according Binance.

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