Binance could delist multiple stablecoins as MiCA takes effect next year

2023-9-22 16:30

Key takeaways

A Binance executive has warned that the exchange could delist multiple stablecoins soon.

The delisting will be fueled by the EU’s MiCA regulation taking effect next year.

Binance to delist  multiple stablecoins

A Binance executive has warned that the cryptocurrency exchange could delist multiple stablecoins from its platform. 

The delisting could happen as the cryptocurrency exchange attempts to decipher the implications of the EU’s Markets in Crypto Assets (MiCA) regulation.

At the moment, it is still unclear how MiCA will apply to decentralized stablecoins and other foreign stablecoin issuers. However, officials from the European Banking Authority (EBA) have pointed out that the regulation immediately applies to coins already on the market.

MiCA was approved last June and will make the EU the first major region in the world to roll out a comprehensive crypto regulation. The regulation would allow crypto exchange and wallet providers to operate across the EU using a single license. 

MiCA’s regulation on stablecoins is set to come into effect in June 2024. Marina Parthuisot, Head of Legal at Binance France, told an online public hearing hosted by the EBA that

“We are heading to a delisting of all stablecoins in Europe on June 30, given that no project has yet been approved. This could have a significant impact on the market in Europe compared to the rest of the world.”

Binance continues to face regulatory pressure

This latest cryptocurrency news comes as Binance continues to face regulatory pressure in the US and other parts of the world. The company’s CEO, Changpeng “CZ” Zhao, hailed MiCA’s clear rules. However, the exchange has exited some European countries, including the Netherlands, Cyprus and Germany, due to regulatory challenges. 

The crypto exchange is still locked in a court case with the United States Securities and Exchange Commission (SEC). Earlier this week, a US court denied the SEC’s request to look into Binance.US’s documents. 

The case continues to affect Binance.US’s performance, with its daily trading volume significantly down in recent months. 

The post Binance could delist multiple stablecoins as MiCA takes effect next year appeared first on CoinJournal.

Similar to Notcoin - TapSwap on Solana Airdrops In 2024

origin »

Binance Coin (BNB) на Currencies.ru

$ 0 (+0.00%)
Объем 24H $0
Изменеия 24h: 0.00 %, 7d: 0.00 %
Cегодня L: $0 - H: $562.5
Капитализация $0 Rank 99999
Цена в час новости $ 211.17 (-100%)

stablecoins binance multiple delist could warned exchange

Источник: coinjournal.net

stablecoins binance → Результатов: 126


Фото:

Coinbase’s USDC Stablecoin Racing to Catch USDT’s Market Cap

Stablecoins have become an important aspect of the cryptocurrency space, and have also become big business with some of the prominent names in the space launching their own iterations. However, even with Coinbase, Binance, and PAX all launching a stablecoin in the last couple of years one stablecoin is still hugely dominant in this sector […] The post Coinbase’s USDC Stablecoin Racing to Catch USDT’s Market Cap appeared first on BeInCrypto.

2020-3-4 20:10


Binance Positions Its Project Venus Stablecoin As Government-Friendly Libra Competitor

Binance, one of the largest crypto exchanges in the world, is marketing its new stablecoin Venus as an alternative to Libra that can be really friendly to governments. The project was revealed last month, when the CEO of Binance, Changpeng Zhao, affirmed that the company would be creating several stablecoins around the world. Now, the […]

2019-9-18 20:58


Чанпэн Чжао приобретет смартфон Samsung Galaxy S10 из-за начала поддержки Binance Coin

Глава криптовалютной биржи Binance Чанпэн Чжао пообещал приобрести смартфон Samsung Galaxy S10, в котором появилась поддержка биткоина, токена BNB и стейблкоинов. Not a small deal, right? Guess which phone I will be buying and recommending to all of my friends! It's spreading.

2019-8-31 18:24


Чанпэн Чжао пообещал купить Galaxy S10, добавивший поддержку Binance Coin

Глава криптовалютной биржи Binance Чанпэн Чжао пообещал приобрести смартфон Samsung Galaxy S10, в котором появилась поддержка биткоина, токена BNB и стейблкоинов. Not a small deal, right? Guess which phone I will be buying and recommending to all of my friends! It’s spreading.

2019-8-30 17:14


Binance Venus, a stablecoin that will compete with Facebook’s Libra

Binance announced that it is planning to launch an open blockchain project focused on developing localized stablecoins around the world, competing with Facebook’s Libra. Reshaping the world’s financial system Over the last few years, Binance has actively communicated the need for a “global, multi-dimensional customer network and compliance system” to different regulatory authorities around the […] The post Binance Venus, a stablecoin that will compete with Facebook’s Libra appeared first on CryptoSlate.

2019-8-20 19:49


Binance Jumps into the Astrological Waters of Stablecoin With its New Project Dubbed “Venus”

Binance, the world's largest cryptocurrency exchange has announced a new project dubbed “Venus” that will develop digital assets pegged to fiat currencies around the world aka stablecoins. This stablecoin initiative of the exchange will see the firm utilizing its proprietary Binance Chain network— that uses “distributed proof of stake” consensus model” — and international payment […]

2019-8-19 16:19


Binance to launch a blockchain for fiat-backed stablecoins, but who even cares?

Cryptocurrency exchange Binance has been announced launch of a new blockchain and it’s called project “Venus. ” I’m not sure why it chose that name because Venus has no moons. Sad. In an announcement published this morning, Binance described Venus as an “initiative to develop localized stablecoins and digital assets pegged to fiat currencies across the globe.

2019-8-19 15:16


TrustToken Launches TUSD on Binance DEX, Four Stablecoins Set to Follow in “Coming Weeks”

Through the year we’ve kept you, our reader, up to date on the new stable coins released by TrustToken, a stable coin issuer backed by top VC firm Andreessen Horowitz (a16z). In early June, the stable coin issuer announced a partnership with Binance decentralized exchange (DEX) to list the TrueUSD (TUSD) token allowing users to […]

2019-8-8 18:04


Новости криптовалют сегодня, 7 июня 2019

Тут новости криптовалют сегодня от авторов блога «Новости криптовалют». Статья обновляется в течение дня. CoinDesk Binance, ведущая крипто-биржа по объему торгов, сообщила Bloomberg, что выпустит свои собственные стабильные монеты, вероятно, в течение нескольких недель.

2019-6-7 09:05


дальше еще 77 новостей →

Партнеры Currencies.ru

Реклама на Currencies.ru

Самое свежее на Currencies.ru

Former chief of the U.S. CFTC joins Paxos board of directors

Christopher Giancarlo, former CFTC chief has joined Paxos board. Giancarlo’s advocacy for blockchain innovation aligns with Paxos’ mission for regulated solutions. Paxos aims to drive financial sector innovation with Giancarlo’s guidance on board.

Hyperinflation Warning: US Bizman, Author Tells Businesses To Stack Bitcoin

Robert Kiyosaki, the author of the bestselling personal finance book “Rich Dad, Poor Dad,” has fired another financial warning shot, this time targeting the US dollar and a potential challenger – a gold-backed stablecoin from the BRICS nations (Brazil, Russia, India, China, and South Africa).

Stablecoin Surge: Tether's Headroom for Growth

The stablecoin already enjoys a dominant position in stablecoins and its integration with the TON (Telegram) network could boost it further, says Sylvia To, head of partnerships and token research at Bullish.