Stablecoin

<h4><strong>Only certain regulated companies will be permitted to issue and offer stablecoins to the public. They will be classified these as “Regulated Stablecoins.” </strong></h4> 
<p>Several existing stablecoins that do not meet these regulatory criteria will be designated as “Unauthorized Stablecoins” and will face certain restrictions.</p> 
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    <h5><strong>Stablecoin Changes Begin June 30, 2024</strong></h5> 
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     According to its <a href="https://www.binance.com/en/support/announcement/mica-stablecoin-rules-implementation-announcement-884c621e335540e0add5fdce31597121?hl=en" target="_blank" rel="noopener">blog post</a>, Binance will phase out Unauthorized Stablecoins to comply with MiCA regulations. These changes aim to facilitate a smooth transition for EEA users.
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<p>Binance’s transitional measures aim to help users shift to Regulated Stablecoins while minimizing market disruptions. From June 30, 2024 (UTC+3), Binance will restrict the availability of Unauthorized Stablecoins across its product offerings.</p> 
<p><img decoding="async" class="wp-image-142131 aligncenter" src="https://www.altcoinbuzz.io/wp-content/uploads/2024/06/dsgfhgtytjtrtr-300x276.png" alt="" width="446" height="410" srcset="https://www.altcoinbuzz.io/wp-content/uploads/2024/06/dsgfhgtytjtrtr-300x276.png 300w, https://www.altcoinbuzz.io/wp-content/uploads/2024/06/dsgfhgtytjtrtr.png 393w" sizes="(max-width: 446px) 100vw, 446px"></p> 
<h6 style="text-align: center;"><strong>Source: <a href="https://x.com/jerallaire/status/1797647499949453691?s=43" target="_blank" rel="noopener">X</a></strong></h6> 
<p>For Binance Convert, the convert functions for Unauthorized Stablecoins will switch to a “sell-only” mode. EEA users can sell Unauthorized Stablecoins for other digital assets, like Bitcoin or Ether, or Regulated Stablecoins. They can also exchange for fiat, depending on local availability.</p> 
<p>However, buying Unauthorized Stablecoins via Convert will cease post-regulation. This approach allows users to smoothly transition to Regulated Stablecoins, ensuring compliance with the new rules.</p> 
<h5><strong>More About Binance Policy</strong></h5> 
<p>In terms of Spot Trading, trading pairs that include Unauthorized <a href="https://www.altcoinbuzz.io/?s=stablecoin" target="_blank" rel="noopener">Stablecoins</a> will continue to be available until further notice. During this interim, users can trade pairs with both Unauthorized and Regulated Stablecoins.</p> 
<p><img decoding="async" class="wp-image-142133 aligncenter" src="https://www.altcoinbuzz.io/wp-content/uploads/2024/06/xcvfdsrghfjy-300x204.png" alt="" width="537" height="365" srcset="https://www.altcoinbuzz.io/wp-content/uploads/2024/06/xcvfdsrghfjy-300x204.png 300w, https://www.altcoinbuzz.io/wp-content/uploads/2024/06/xcvfdsrghfjy.png 395w" sizes="(max-width: 537px) 100vw, 537px"></p> 
<h6 style="text-align: center;"><strong>Source: <a href="https://x.com/binance/status/1797666731625767340" target="_blank" rel="noopener">X</a></strong></h6> 
<p>For <a href="https://www.altcoinbuzz.io/?s=wallet" target="_blank" rel="noopener">Wallet</a> services, Binance will maintain custody and wallet functionalities for Unauthorized Stablecoins. Users will still be able to deposit and withdraw these stablecoins from their Binance wallets. This ensures that they retain access to their assets during the regulatory transition.</p> 
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<h6><strong>Disclaimer</strong></h6> 
<p>The information discussed by Altcoin Buzz is not financial advice. This is for educational, entertainment, and informational purposes only. Any information or strategies are thoughts and opinions relevant to the accepted levels of risk tolerance of the writer/reviewers and their risk tolerance may be different than yours. We are not responsible for any losses that you may incur as a result of any investments directly or indirectly related to the information provided. Bitcoin and other cryptocurrencies are high-risk investments so please do your due diligence. Copyright Altcoin Buzz Pte Ltd.</p> 
<p>The post <a href="https://www.altcoinbuzz.io/cryptocurrency-news/binance-adjusts-stablecoin-offerings-for-eea-compliance/">Binance Adjusts Stablecoin Offerings for EEA Compliance</a> appeared first on <a href="https://www.altcoinbuzz.io">Altcoin Buzz</a>.</p>

Binance Adjusts Stablecoin Offerings for EEA Compliance

Altcoin Buzz

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