Binance to Restrict Access to “Unregulated Stablecoins” for EU Clients

Binance will restrict access to “unregulated stablecoins” for clients in the European Union, according to a statement from the exchange. This is due to the introduction of the EU’s MiCA regulatory framework, which will establish rules for crypto services starting in 2025.

The statement does not explicitly mention Tether’s USDT, which has already been rejected by OKX in Europe and might be rejected by Kraken.

“Stablecoin regulation will be implemented in EU countries, meaning that in practice, only certain regulated companies will be able to issue and offer stablecoins that fall into the category of ‘regulated stablecoins,'” the exchange’s statement reads.

Binance will limit a range of services involving “unauthorized stablecoins,” and copy trading services, as well as participation in Launchpad and Launchpool programs, will no longer be available to European clients of the exchange.