Binance will ease European users’ transition from unauthorized to regulated stablecoins with a “sell-only” strategy.
Binance will be toeing the line when Markets in Crypto-Assets Regulation (MiCA) rules of stablecoins (asset-referenced tokens) come into effect at the end of the month. The cryptocurrency exchange has alerted users in the European Economic Area to changes they can expect to their service.
MiCA creates uniform rules for crypto asset issuers that have not already been regulated in the European Union. In response, Binance is dividing stablecoins into “regulated” and unauthorized” coins according to their compliance with the new rules.
The exchange “aims to fulfill MiCA objectives smoothly by transitioning users from Unauthorized Stablecoins to Regulated Stablecoins over time, as more Regulated Stablecoins become available in the market.”
