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Binance ends Tether USDT trading in Europe to comply with MiCA rules

Binance has discontinued spot trading pairs with Tether’s USDt in the European Economic Area (EEA) to comply with the Markets in Crypto-Assets Regulation (MiCA).

Cryptocurrency exchange Binance has delisted spot trading pairs with several non-MiCA-compliant tokens in the EEA in line with a plan disclosed in early March, Cointelegraph has learned.

While spot trading pairs in tokens such as USDt (USDT) are now delisted on Binance, users in the EEA can still custody the affected tokens and trade them in perpetual contracts.

Binance ends Tether USDT trading in Europe to comply with MiCA rules

USDT is available for perpetual trading on Binance. Source: Binance

According to a previous announcement by Binance, the spot trading pairs for non-MiCA-compliant tokens were to be delisted by March 31, which is in line with a local requirement to delist such tokens by the end of the first quarter of 2025.

Delistings on other exchanges in EEA

Binance is not the only crypto exchange delisting non-MiCA-compliant tokens for spot trading in the EEA.

Other exchanges, such as Kraken, have delisted spot trading pairs in tokens such as USDT in the EEA after announcing plans in February.

According to a notice on the Kraken website, the exchange restricted USDT for sell-only mode in the EEA on March 24. At the time of writing, the platform doesn’t allow its EEA users to buy the affected tokens.

Binance ends Tether USDT trading in Europe to comply with MiCA rules

Kraken restricted USDT to sell-only mode in the EEA on March 24. Source: Kraken

Among other non-MiCA-compliant tokens, Binance has also delisted spot trading pairs for Dai (DAI), First Digital USD (FDUSD), TrueUSD (TUSD), Pax Dollar (USDP), Anchored Euro (AEUR), TerraUSD (UST), TerraClassicUSD (USTC) and PAX Gold (PAXG).

Related: Tether acquires 30% stake in Italian media company Be Water

Kraken’s delisting roadmap in the EEA only included five tokens: USDT, PayPal USD (PYUSD), Tether EURt (EURT), TrueUSD and TerraClassicUSD.

ESMA doesn’t prohibit custody of non-MiCA-compliant tokens

Binance and Kraken’s move to maintain custody services for non-MiCA-compliant tokens aligns with a previous communication from MiCA compliance supervisors.

On March 5, a spokesperson for the ESMA told Cointelegraph that custody and transfer services for non-MiCA-compliant stablecoins do not violate the new European cryptocurrency laws

On the other hand, the same regulator previously advised European crypto asset service providers to halt all transactions involving the affected tokens after March 31, adding a certain extent of confusion over MiCA requirements.

Magazine: How crypto laws are changing across the world in 2025

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Ex-minister Tulip Siddiq set to face corruption trial in Bangladesh

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Ex-minister Tulip Siddiq set to face corruption trial in Bangladesh

Former anti-corruption minister Tulip Siddiq is set to face trial later this month over corruption allegations in Bangladesh.

Ms Siddiq resigned from her ministerial role earlier this year over accusations she illegally received a plot of land in a new high-end development on the outskirts of Dhaka, Bangladesh’s capital, from her aunt, Sheikh Hasina, who was ousted as prime minister last year.

Bangladesh’s Anti-Corruption Commission (ACC) claims the Labour MP received a 7,200sq ft plot in the diplomatic zone through “abuse of power and influence”.

The ACC confirmed Ms Siddiq’s case is due to be heard in Bangladesh on 11 August.

A top official at the Commission told Sky News that if the Labour MP refuses to attend court on this date, a trial will be held in her absence.

It is understood she will not be present.

Ms Siddiq’s lawyers have denied the allegations against her.

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Tulip Siddiq with Sheikh Hasina in 2009. Pic: Reuters
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Tulip Siddiq with Sheikh Hasina in 2009. Pic: Reuters

Sky News understands an article published on Thursday morning saying the Labour MP for Hampstead and Highgate will face trial in Bangladesh over the allegations is the first Ms Siddiq had heard of the court date.

A source close to Ms Siddiq told Sky News her lawyer was in court every day last week to request information, but was denied it.

An ACC official said Ms Siddiq’s lawyer “was absent in the court” when the court order was issued on Thursday.

They added that the order relates to three cases involving Ms Siddiq and others – all regarding corruption around the Purbachal new town project.

The Commission will continue to take steps “to ensure justice against the perpetrators”, the official said.

Ms Siddiq’s lawyer said: “For nearly a year now, the Bangladesh authorities have been making false allegations against Tulip Siddiq.

“Ms Siddiq has not been contacted or received any official communication from the court and does not and has never owned any plot of land in Purbachal.

“This longstanding politically motivated smear campaign has included repeated briefings to the media, a refusal to respond to formal legal correspondence, and a failure to seek any meeting with or question Ms Siddiq during the recent visit by the Anti-Corruption Commission (ACC) to the United Kingdom.

“Such conduct is wholly incompatible with the standards of a fair, lawful, and credible investigation.

“In light of these facts, it is now time for the Chief Adviser and the ACC to end this baseless and defamatory effort to damage Ms Siddiq’s reputation and obstruct her work in public service.”

Read more:
Bangladesh issues arrest warrant for Tulip Siddiq – as she denies claims
Tulip Siddiq: ‘My lawyers are ready’ for questions about corruption claims

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‘Leave me alone’: MP tells Bangladeshi authorities

In June, Ms Siddiq accused Bangladesh’s interim leader, Nobel Prize-winning economist Professor Muhammad Yunus, of conducting an “orchestrated campaign” to damage her reputation and “interfere with UK politics”.

In a legal letter seen by Sky News in June, the MP also said comments made by Professor Yunus in a Sky News interview have prejudiced her right to a fair investigation, meaning the corruption inquiries should be dropped.

The interim leader, who took over after Ms Hasina was ousted last year following violent protests, said Ms Siddiq “has so many (sic) wealth left behind here” and “should be made responsible”.

Sheikh Hasina pictured in 2023.
Pic: AP/ Yomiuri Shimbun
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Sheikh Hasina fled Bangladesh after being accused of rigging elections and interfering with the judicial system. Pic: AP/ Yomiuri Shimbun

Professor Yunus’ press secretary said he and the ACC “has no reason and scope to interfere in UK politics”.

“The Anti-Corruption Commission relies not on hearsay but on documentary evidence and witness testimony,” they said.

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Andreessen Horowitz warns of loopholes in draft US crypto rules

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Andreessen Horowitz warns of loopholes in draft US crypto rules

Andreessen Horowitz warns of loopholes in draft US crypto rules

Andreessen Horowitz urged the US Senate Banking Committee to scrap the “ancillary asset” concept in draft crypto legislation, warning of loopholes.

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Salvadoran President Nayib Bukele can now run for election indefinitely

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Salvadoran President Nayib Bukele can now run for election indefinitely

Salvadoran President Nayib Bukele can now run for election indefinitely

El Salvador approved indefinite reelection for president and extended terms to six years, sparking backlash from critics warning of increasing authoritarianism.

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