ATTENTION EUROPEANS : MiCA LAW arrives !
What is MiCA ? :
The MiCA Regulation isn’t just another set of rules; it’s a
significant step towards integrating the world of cryptocurrency and DLT into the wider financial landscape of the EU.
Entrance to EU market: MiCA provides a unique
opportunity for tech companies dealing with crypto projects to access the vast EU market. With a single set of rules applicable across all 27 EU countries:
Passporting regime: Once licensed in one EU country, crypto and tech companies can potentially offer their crypto
services throughout the entire EU without the need for additional licenses.
Uniform rules: MiCA aims to create a harmonized
regulatory environment across the EU, ensuring consistent rules and compliance requirements.
What does this mean for BINANCE users ?
If you live in EUROPE you might not be able to do trades in USDT anymore...as TETHER is not Mica compliant!
starting 01/01/2025 you'll probably need to use EURI/FDUSD or USDC (third option is not sure yet...)
Tether will apply to the law...but it will take months..and in parallel other exchanges have already introduced new stablecoins like USDQ and EURQ...that are Mica friendly !