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USDC is Now MiCA-Compliant: Here’s How It Affects Your Binance Account

USDC is Now MiCA-Compliant: Here’s How It Affects Your Binance Account

2024-07-01 15:02

This announcement affects only users in the the European Economic Area (EEA).

This is a general announcement and marketing communication. Products and services referred to here may not be available in your region.

Fellow Binancians,

On 2024-07-01, Circle announced that it had been authorized to issue USDC as a MiCA-compliant e-money token (“EMT”), making USDC the first major Regulated Stablecoin in the EEA. 

This means that USDC will continue to be available across most of Binance’s product offerings, such as, but not limited to: 

  • Convert

    • Buying and selling of USDC on Convert remains available. Other stablecoins can be converted into USDC. 

  • Earn 

    • Subscriptions of USDC on Earn Products, such as Simple Earn, Cloud Mining & Web3 Wallet Earn, including any Auto-Subscribe features remain available.

  • Binance Loans & VIP Loans

    • USDC loan applications remain available. 

    • Using USDC as collateral for these products remain available. 

  • Referral Commission/Rebate, Rewards 

    • Referral commissions or rebates for Spot and Margin will be paid in USDC.

    • Most rewards across the platform, for example from the Rewards Center and Campaigns will be changed to USDC, unless it is specified that other tokens could be issued in the campaigns’ terms and conditions. 

  • Buy Crypto with Fiat

    • Purchase of USDC with Fiat currency and credit card through the “Buy Crypto” page remains available. All on-going recurring buy plans currently set from local fiat currencies to non-Regulated Stablecoins will be automatically transitioned to USDC.

  • Margin

    • The transfer of USDC as margin collateral into the Margin Wallet remains available.

    • USDC borrowing across Cross Margin, Isolated Margin, and Cross Margin Pro products remains available. 

  • P2P Trading 

    • Purchasing and selling of USDC via P2P remains available. 

Please note that Spot trading for all stablecoins remains available after 2024-07-01.

Binance’s handling of Unauthorized Stablecoins remains the same as per previous announcement. There will not be any forced conversions. 

For additional queries and information, please do not hesitate to contact Binance Customer Service agents. Please stay tuned for more campaigns and product launches with USDC on Binance’s platform. 

Note: There may be discrepancies in the translated version of this original article in English. Please reference this original version for the latest or most accurate information where any discrepancies may arise.

Thank you for your support!

Binance Team

2024-07-01

Disclaimer: USDC is an e-money token issued by Circle Internet Financial Europe SAS (https://www.circle.com/). USDC’s whitepaper is available here. You may contact Circle using the following contact information: +33(1)59000130 and EEA-Customer-Support@circle.com. 

Holders of USDC have a legal claim against Circle SAS as the EU issuer of USDC. These holders are entitled to request redemption of their USDC from Circle SAS. Such redemption will be made at any time and at par value.

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Binance reserves the right in its sole discretion to amend or cancel this announcement at any time and for any reasons without prior notice.

Disclaimer: Digital asset prices are subject to high market risk and price volatility. The value of your investment may go down or up, and you may not get back the amount invested. You are solely responsible for your investment decisions and Binance is not liable for any losses you may incur. Past performance is not a reliable predictor of future performance. You should only invest in products you are familiar with and where you understand the risks. You should carefully consider your investment experience, financial situation, investment objectives and risk tolerance and consult an independent financial adviser prior to making any investment. This material should not be construed as financial advice. For more information, see our Terms of Use and Risk Warning.