Binance Could Delist Multiple Stablecoins
The cryptocurrency exchange could delist a number of stablecoins from its platform, a Binance CEO has warned.
The delisting might take place as the cryptocurrency exchange analyses the Markets in Crypto Assets (MiCA) rule put forth by the EU.
How MiCA will apply to decentralised stablecoins and other overseas stablecoin issuers is currently unknown. However, representatives of the European Banking Authority (EBA) have emphasised that the rule is effective right away for coins that are currently on the market.
The EU has approved MiCA, a comprehensive crypto regulation, making it the first major region globally to implement such a regulation. MiCA will allow crypto exchanges and wallet providers to operate across the EU using a single license. The regulation on stablecoins is set to take effect in June 2024. This comes amid ongoing regulatory pressures for Binance, which has exited some European countries, including the Netherlands, Cyprus, and Germany, due to regulatory issues.
(With inputs from Shikha Singh)
You need to login in order to Like
