Popular stablecoins like Tether (USDT), First Digital USD (FDUSD), TrueUSD (TUSD), Pax Dollar (USDP), and DAI will no longer be available for trading on the platform. Binance has urged users to switch to MiCA-compliant alternatives such as Circle’s USD Coin (USDC) and Eurite (EURI) before the deadline.
While delisting typically impacts trading pairs, Binance has assured users they can still deposit, withdraw, and convert non-compliant stablecoins through Binance Convert. The exchange emphasized its commitment to complying with EU regulations, stating, “Custody of non-MiCA compliant stablecoins will continue, and you will be able to withdraw or deposit them at any time.”
The delisting will affect some of Binance’s trading activities. Margin trading pairs involving non-MiCA stablecoins will be removed starting March 27, 2025, with remaining assets automatically converted to USDC. Binance has advised users to convert their assets before this date to avoid liquidation risks.
Additionally, all spot trading pairs for non-compliant stablecoins will be delisted by March 31, 2025. After this date, users can only sell these assets through Binance Convert, and pending orders will be canceled within 48 hours of delisting.
To ease the transition, Binance has introduced incentives for EEA users, including zero-fee trading promotions for selected USDC pairs, rewards for trading in USDC and EURI, and special savings opportunities through Binance Earn.
The MiCA regulations have sparked criticism from some industry players. Paolo Ardoino, CEO of Tether, has raised concerns about the requirement for stablecoin issuers to hold 60% of reserves in EU banks, warning that deposits exceeding €100,000 are not insured. Despite the backlash, USDT has already been delisted from several EU exchanges, including Coinbase. Tether maintains that the delisting will have minimal impact on its business, as EU trading volumes are relatively small.