Europe, undisputed champion of the regulatory paperwork, gives itself a nice shine with Mica, this legal frame tailor -made to tame digital assets. If some stablecoins have been dubbed, others did not have this chance, starting with the famous USDT de Tether. And for users of Binance in the European Economic Area (EEE), the note promises to be salted: the giant of the cryptos is preparing to draw a line on nine stablecoins from March 31.
Binance forced to sort
The mica cleaver for the crypto exchanges fell, and Binance sees himself forced to make several stablecoinsincluding USDT, DAI and FDUSD. Exit the non -compliant trading pairs, but do not panic, the holders of these tokens will always be able to Convert them via Binance Convert.
The announcement had the effect of an electroshock, especially on X, where Michela S. relayed the information:
“To all our EU clients: we make changes to the availability of stablecoins not in accordance with mica in the EEA in order to comply with regulatory requirements. »»
In other words, Binance did not really have a choice.
In detail, here what will change ::
- Deletion of crypto trading pairs not in accordance with Mica from March 31, 2025;
- Automatic conversion of certain stablecoins to USDC from March 27 for Margin accounts;
- Maintaining non -compliant stable custody, but impossibility of trading them.
But beyond the simple technical adjustments, a question arises: Binance, BNB transmitter, will he manage to drop out its regulatory sesame in Europe by 2025?
Crypto regulation that rebuts cards
Behind this great purge, the whole crypto industry is shaking. Mica now imposes strict rules on Stablecoins reserves, a constraint that has not escaped observers like Midas:
“The stablecoins are supposed to be 'safe' and 'stable'. But below the surface, the existing models have introduced risks that many have neglected. »»
In question? An economic model that has favored yield to the detriment of stability. By looking for profit, some stablecoins issuers have invested their reserves in risky assets.
Result: cryptos supposed to be stable are exposed to market fluctuations.
The Mica application thus calls into question the entire stablecoin ecosystem, forcing the players in the sector to review their strategy. Some, like Circle with the USDC, take advantage of this new deal to establish themselves as compliant leaders. Others, like Tether, must juggle more drastic regulatory adjustments.
The consequences could be heavy: Reduction of the diversity of stablecoinsmarket concentration and potential increase in costs for users.
Mica therefore changes the situation and forces the exchanges to review their copy. Binance is not the only one to adapt: OKX, Crypto.com and Bybit have already taken the lead. By tightening the screw, Europe hopes to establish itself as a model in terms of Crypto regulation. But will this strategy be enough to avoid a crisis?
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