Binance Will Delist USDT for Users in Europe by March 31

Binance announced it will delist USDT, the world’s largest stablecoin, from its platform by March 31, joining a growing list of top crypto exchanges to make such a move in recent months. Notably, these changes only affect users in users in the European Economic Area (EEA).

Binance to Delist USDT 

In a blog post on Monday, the world’s largest crypto exchange noted that it will delist USDT alongside other non-MiCA-compliant stablecoins in the EEA, including FDUSD, TUSD, USDP, DAI, AEUR, UST, USTC, and PAXG.

According to the announcement, the exchange will cease offering trading pairs involving these tokens by March 31. Binance has advised users in the EEA to convert their holdings of these stablecoins into MiCA-compliant alternatives like USDC, EURI, or EUR as soon as possible.

After March 31, any remaining balances in non-compliant stablecoins may be subject to automatic conversion into a compliant asset. However, the exact details of this process are yet to be fully clarified.

Complying with MiCA

The delisting aligns with actions taken by other exchanges, such as Crypto.com and Kraken, which have also scheduled USDT removals by March 31. This indicates a coordinated industry response to the Markets in Crypto-Assets (MiCA) rules.

The MiCA regulation is an EU-wide comprehensive framework for regulating crypto-assets, including stablecoins. Passed into law in May 2023, MiCA began partial implementation in June 2023, with its stablecoin provisions coming into full effect by December 30, 2024. 

Under MiCA, stablecoins like USDT and USDC are classified as “Electronic Money Tokens” (EMTs) or “Asset-Referenced Tokens” (ARTs). Therefore, their issuers are required to register as an Electronic Money Institution (EMI) in at least one EU member state. Additionally, issuers must adjust their stablecoin reserve management to meet EU standards.

Unlike Circle, which secured an EMI license for USDC in mid-2024, Tether’s USDT faces delisting because it has not adapted to MiCA’s requirements.

While MiCA’s stablecoin rules took effect on December 30, 2024, exchanges were given a transitional period to adjust. Full compliance is expected by March 31, 2025, prompting a wave of delistings from multiple exchanges.