Binance has announced the implementation of the new Markets in Crypto-Assets (MiCA) stablecoin rules, set to come into effect on June 30, 2024, across the European Economic Area (EEA), according to Binance.
This marks a significant step in the new regulatory framework that will impact the stablecoin market in the region.The MiCA regulations will require stablecoins to be issued and offered to the public only by regulated entities, designating these as “Regulated Stablecoins.” Several existing stablecoins may not meet these criteria and will be categorized as “Unauthorized Stablecoins,” subsequently facing certain restrictions.