Bad! Binance Wants To Delist Stablecoin In This Country!

<p>&nbsp;"There must be a reason for Binance to do that, so we have to respect the decision."</p><p><br /></p><p>During a public hearing with the European Banking Authority (EBA), Binance France Head of Legal Marina Parthuisot plans to delist the stablecoin for the European market on June 30, 2024.</p><p><br /></p><p>Parthuisot did so after the Market in Crypto Assets (MiCA) law was passed in June 2023, but the legislation for stablecoins will come into force a year later, in June 2024.</p><p><br /></p><p>However, it should be noted that Binance on June 26, 2023 has reversed its decision to delist privacy coins in Europe following a review of its operations to comply with European Union (EU) standards.</p><p><br /></p><p><br /></p><p>However, things are different for stablecoins as EU legislation used to say that stablecoin transaction limits could restrict crypto adoption, where the $16 million limit would apply to USDT, USDC and others.</p><p><br /></p><p>Binance's decision to delist stablecoins to comply with MiCA is not the only example of change as many companies and countries have moved to meet the new standards.</p><p><br /></p><p>According to Changpeng Zhao (CZ), the Chief Executive Officer (CEO) of Binance said that they have several partners who have successfully launched EUR and other stablecoins while complying with its standards.</p><p><br /></p><p>He added that he previously had a positive view of the introduction of MiCA as his team had stated that they were willing to take the opportunity to develop a compliant business in Europe.</p>