Binance will restrict the use of unauthorized stablecoins by users in Europe

The new stablecoin rules implemented by the European Union's Crypto Asset Market (MiCA) framework will come into effect on June 30, 2024, affecting stablecoins and the broader digital asset market across the European Economic Area (EEA). Binance will restrict the use of unauthorized stablecoins by users in the European Economic Area, implementing phased changes and product restrictions to ensure compliance and minimize market disruption. Binance's approach will be to successfully achieve MiCA's goals by transitioning users from unauthorized stablecoins to regulated stablecoins as the number of regulated stablecoins in the market increases.