Binance: To comply with the new MiCA stablecoin regulations, it will restrict European users from using unauthorized stablecoins

ChainCatcher message, Binance published an article explaining the implications of the MiCA stablecoin rules and how Binance will comply. The new stablecoin rules under the European Union's Markets in Crypto-Assets (MiCA) framework will take effect on June 30, 2024, impacting stablecoins and the broader digital asset market across the European Economic Area (EEA). Binance will restrict EEA users from using unauthorized stablecoins, implementing phased changes and product restrictions to ensure compliance and minimize market disruption. Binance's approach will be to transition users from unauthorized stablecoins to regulated stablecoins as the number of regulated stablecoins in the market increases, thereby smoothly achieving the goals of MiCA.