MiCA Takes Effect: Binance Pulls Out and USDT Locked from EU Platforms
With MiCA fully in force from July 1, Binance suspends EU services and Tether’s USDT loses access on licensed exchanges, prompting shifts toward USDC and self‑custody.
As of July 1, the MiCA regulation has come fully into force, leading Binance to halt services for EU users. The exchange failed to secure the required licensing, forcing a suspension of new deposits while still allowing withdrawals.
Simultaneously, Tether’s USDT has been delisted on licensed European platforms, as the issuer neglected to apply for the required e‑money‑token authorization under MiCA. This has strained USDT liquidity in the EU, pushing users toward compliance‑ready alternatives like USDC.
Amid this reshuffling, BNB Chain issued a migration guide advocating self‑custody, urging users to move assets from centralized exchanges into non‑custodial wallets and gain access to DeFi, staking, and tokenized asset services more directly.
