PANews reported on March 4 that according to Bitcoin.com, Binance announced on March 3 that it would remove a number of stablecoins that did not comply with the Crypto Assets and Markets Regulation Act (MiCA) from its platform serving residents of the European Economic Area (EEA). Among them, USDT, the stablecoin with the largest market value, topped the delisting list. Other affected stablecoins include FDUSD, TUSD, USDP, DAI, AEUR, UST, USTC and PAXG. Binance urged users to convert these stablecoins to USDC, EURI or EUR as soon as possible, but clarified that EEA users can still deposit or withdraw these non-compliant stablecoins and promised to continue custody. From March 31, EEA users can only handle these stablecoins through Binance conversion services.

Binance’s plan to end support for USDT is similar to other major crypto exchanges such as Coinbase and Crypto.com, which have also taken the same step by delisting USDT to comply with MiCA regulations.