Wu said that Binance has issued a document explaining the meaning of MiCA stablecoin rules and how Binance will comply with them. The new EU MiCA rules will take effect on June 30, 2024. To comply with MiCA, Binance will restrict the use of unauthorized stablecoins by users in the European Economic Area, and implement phased changes and product restrictions to ensure compliance. The approach that Binance will take is to transition users from unauthorized stablecoins to regulated stablecoins as more regulated stablecoins are available in the market, thereby smoothly achieving MiCA goals.