The Block Crypto News19 minutes ago

Published on June 03, 2024 15:42 GMT+00:00edited on June 03, 2024 15:44 GMT+00:00

Binance, the world's largest cryptocurrency exchange by trading volume, announced it will soon restrict availability in the European Union to stablecoins that are considered "unregulated" by the EU. 

In a statement, Binance said the rules for stablecoins outlined in the EU's Markets in Crypto-Assets Regulation (MiCA) will come into effect at the end of June. "This will be a first step entering the new regulatory framework and it will have a significant impact on the stablecoin market in the European Economic Area," the statement said.

Binance said that as stablecoins become regulated in Europe, only tokens issued by "regulated companies" will be available to the public. "Several existing stablecoins may not fall into this category and will therefore be subject to certain …