Leading cryptocurrency exchange Binance has ended spot trading involving the stablecoin Tether (USDT) and other tokens within the European Economic Area (EEA). The move is in response to the requirements of the European Union’s Markets in Crypto-Assets Regulation (MiCA), which is gradually coming into force.
The restriction applies only to spot trading pairs. Users can still hold these tokens and trade them through derivatives.
Timeline and reasons for the delisting
Binance first announced the upcoming restrictions in early March. The final delisting date for tokens that do not comply with MiCA requirements was set for March 31, 2025, aligning with the regulatory deadline for the first quarter outlined in the EU framework.
The delisting affects not only USDT pairs but also trading pairs involving other major stablecoins such as DAI, FDUSD, TUSD, USDP, AEUR, UST, USTC, and PAXG. None of these tokens have passed preliminary certification under MiCA’s criteria.
Binance is not the only platform to adjust its trading policies in the EU. Earlier, in February, exchanges including Kraken, Crypto.com, and OKX also announced the delisting of USDT and other assets for the same regulatory reasons.
MiCA pressure increases
The MiCA regulation is being implemented in stages. Rules concerning stablecoins are set to be enforced starting at the end of June 2024, but platforms are already adjusting their operations to avoid non-compliance. The regulation requires that all tokens used within the EU be registered and issued under laws governing electronic money or digital assets.
Until Tether and other stablecoin issuers complete the approval process, platforms are forced to limit trading to avoid legal consequences.
Thailand takes the opposite approach
While Europe tightens restrictions on USDT, the Thai Securities and Exchange Commission (SEC) has officially approved its use. According to a decision by the regulator dated March 16, 2025, Tether has been added to the list of approved cryptocurrencies allowed for trading on licensed exchanges in the country.
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