Binance CEO Rechard Teng has corrected the FUD of delisting stablecoins on Binance which is incorrect.

✨In the European market, after the first raid targeting the founder of Tornado Cash and scammers and developers who pulled the rug from many projects in the crypto market, lawmakers decided to further tighten regulations on Cryptocurrency asset management.

✨Specifically, the new set of rules on stablecoins within the EU's electronic money market framework (abbreviated as MiCA) will officially take effect from June 30, 2024. The stablecoins will be governed by EU lawmakers, with only certain management companies appointed by the Council of the European Union.

✨This has a strong impact on stablecoins and crypto markets in EU countries. Especially when Tether - $USDT was also included in the list of unlicensed stablecoins by MiCA.

✨Currently Binance announced that they will offer the following options:

- Trading Product Restrictions: Binance will implement product restrictions that prevent users from participating in new products or services related to unlicensed Stablecoins. This will affect all of Binance's current product offerings.

- Binance Convert: The trading function for Unauthorized Stablecoins products will only have "sell-only" mode. These Unauthorized Stablecoins can only be used to buy other coins (like $BTC or authorized stablecoins).

- Spot trading: Token/Unauthorized Stablecoins trading pairs will be converted and there will be new announcements soon.

- Wallet : You can still continue to withdraw or deposit stablecoins from/to your Binance wallet.