Binance Officially Delists USDT and Other Non-MiCA Compliant Stablecoins in Europe
On April 1, 2025, the world's largest cryptocurrency exchange Binance delisted a number of non-compliant stablecoins from its platform for users in the European Economic Area (EEA). The move is in compliance with the European Union's Markets in Cryptocurrency Assets (MiCA) Regulation – a new set of legal rules designed to increase transparency and safety for the digital currency market in the region.
USDT, TUSD and FDUSD included in the list of delistings
Among the stablecoins affected, the most notable is Tether (USDT) – the world's largest stablecoin with a market capitalization of tens of billions of dollars. Other stablecoins such as TrueUSD (TUSD), First Digital USD (FDUSD) and Binance USD (BUSD) have also been removed from Binance's trading system in the EEA for not meeting MiCA compliance standards.
According to the European Central Bank (ECB), stablecoins such as USDT and BUSD currently account for 90% of the global stablecoin market, so removing them from the European market is a far-reaching move.
User Impact and Conversion Options
Users in the EEA region are currently unable to open new trades with non-compliant stablecoins. Open orders will be automatically canceled within 48 hours, and any balances related to Cross Margin trading will also be converted by Binance to compliant stablecoins, such as USDC.
In addition, Isolated Margin positions have also been closed. In products such as Binance Earn and Loans, stablecoins that do not meet MiCA standards have been completely removed.
Binance recommends that users use the Binance Convert feature to convert non-compliant stablecoin balances to MiCA-compliant assets, such as USDC or EURI – a stablecoin backed by the Euro.
Other exchanges have taken similar measures
Binance is not the only exchange to take this drastic step. Previously, many major exchanges have also proactively removed USDT and similar stablecoins from the EEA market:
OKX: Delisting USDT pairs in March 2024, switching to Euro liquidity.
Coinbase: Stopping USDT trading in Europe in December 2024 to ensure MiCA compliance.
Kraken: Starting March 24, 2025, only USDT sales are allowed, and plans to remove stablecoins such as PayPal USD (PYUSD), EURT and USTC.
MiCA: Creating a Safer and More Transparent Playground
Approved by the EU to standardize the cryptocurrency market, MiCA requires stablecoin issuers to:
Maintain adequate and transparent reserves
Comply with strict supervision
Ensure stability and transparency for users
The regulation aims to minimize systemic risk and protect investors, especially in the context of highly volatile cryptocurrency markets.
While MiCA does not prohibit the custody or transfer of non-compliant stablecoins, the fact that major exchanges such as Binance, OKX or Kraken have stopped supporting trading is a strong signal of a change in the operating model of the crypto market in Europe.
Why is this important?
The decision by Binance and other exchanges to comply with MiCA is a turning point for the cryptocurrency market in Europe. Not only does it set a legal precedent, it also promotes the development of more closely monitored, secure, and transparent stablecoins.
As more institutional investors enter the market, standardizing stablecoins is essential to building trust and promoting the sustainable development of the global Web3 ecosystem.