🚨🚨🚨 Will Binance remove stablecoins from Europe? CEO Richard Teng made a breaking statement!🚨🚨🚨$BTC
Binance, the world's largest cryptocurrency exchange by trading volume, announced that it will soon limit the availability of stablecoins, which the European Union (EU) considers “unregulated.”
#RichardTeng, CEO of Binance, addressed speculation that some of Binance's stablecoins could be delisted. In his statement, Teng said the following:
“I would like to take a moment to answer one of the most important questions about our strategy for the upcoming MiCA stablecoin rules.
You can rest assured that Binance will not directly delist unauthorized stablecoins, but will only limit their availability to certain products for users in the European Economic Area (EEA).
Updates on regulated stablecoins will be shared soon.”
There has yet to be an official response from Binance to the question of which stablecoins fall into the “unregulated” category.
As stablecoins are regulated in Europe, Binance said only tokens issued by “regulated companies” will be available to the public. "Some existing stablecoins may not fall into this category and will therefore be subject to certain restrictions," the company added.
The company stated that the rules for stablecoins, as outlined in the EU Markets in Cryptoactive Assets (MiCA) Regulation, will come into force at the end of June. "This will be the first step towards the new regulatory framework and will have a significant impact on the stablecoin market in the European Economic Area," the statement said.
