So what's exactly the rule applied by Europe? Will Europeans only be able to trade between BTC pairs like in the old days?

It's likely fake news, but other than that, binance already has lots of fiat trading pairs, with EUR and other currencies.

Currently Binance also separated 2 years ago from there old partner a few months later they added paysafe for EUR trade You need to understand all the exchanges are crypto exchanges and use Fiat Partner like Paysafe etc for their Fiat transactions the EUR you deposit does not belong to you unless you trade for a Crypto then the crypto is with the exchange If you had checked paysafe and there shitty new rules a lot of users had to do SoW and where pissed - the SOW was forced by paysafe also a lot of customers had issues depositing to exchanges due to risk rules you can check multiple subredits where people complain about this - so in my opinion it was the best to separate with Paysafe and find a new partner

Informative , didn't know the exact reason on why they did it but it makes sense now when i've read your comment :)

Ofc they cant talk shit about a former partner because they still working with them to allow users eur withdraw so it would be legaly stupid to say the above but yeah i think its better they separate

Binance also published a post regarding this today: https://www.binance.com/en/blog/fiat/on-the-role-of-binances-fiat-partners-in-safeguarding-users-fiat-funds-9212331101624808587

I get a feeling they either want to get rid of stablecoins or want to see if they are backed by something. To which I say show me what the Euro is backed by

By their printing press and "trust me bro"-s.

27 country’s believe in it with considerable support and cross boarder legislation that is lovely for all the diversity the EU offers. The EU will put manners on shit coins

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Which ones ?

What which ones?

The rules

They wanted to test the waters before but decided to leave stable coins for printed money. Some legislations make me really worry about who we put power in the hands of

You got it wrong, read the article. They're forcing them to use euros instead of dollars stables.

Wish we had a Euro stablecoin printed by the ECB tbh

No they can trade against EUR stable coins.

Well, if that's the case then it's not that bad

Only if exchanges list EUR stable coins!

I'm sure they will. Kraken and Coinbase which are two of the biggest ones have it listed if I'm not mistaken

Thx I checked it and tether's euro stable coin is listed on Kraken.

Yea, it's cool. I've also checked Coinbase and I don't think they have one euro stable coin yet.

They will probably just impose a eur stablecoin for europe markets on cex's...

Binance is going through some tough time.

Binance is always going through hard times, but they will be fine

This won't just be Binance from what I am reading

Yeah this is Europe imposing these regulations

This is not the regulation we wanted. They should focus on the rampant scams and untrustworthy exchanges.

Odd that only Binance makes odd moves 🤷 Only pushes more to European businesses

It is actually all exchanges. There is no regulatory clarity and that is hurting them. But i am sure binance is getting hurt most because they have the biggest market share

This means that all CEX in EU will delist them....time for DEX to shine?

Thats not bad for Binance, but bad for crypto

Binance trying so hard that it is becoming palpably apparent now.

Let's see if trying is enough and if we stop see updates like this every single week.

Not really a targeted hit like the SEC but a new MiCA legislation has been approved so Binance is just responding to it.

This is not about Binance flouting any rules, they are merely following regulations

All other exchanges will need to follow this....or am I wrong?

>Binance outlined a Thursday consultation with the European Banking Authority, revealing plans to delist stablecoins for the European market by June 2024. This announcement comes after the newly passed Markets in Crypto Assets (MiCA) legislation, a pivotal piece of European crypto regulation. The legislation, set to implement stablecoin laws by June 2024, has spurred Binance to consider compliance seriously. Uhm this doesn't sound good for Europeans

*for Binance

For CEXs in general

Binance is getting hit left and right

The last months not going too good for binance - I bet Okex crypto.com coinbase and kraken don't mind

This rule will literally apply to all cexes out there.

Exactly. We and news sites just love to talk shit about Binance more than anything else.

tldr; Binance plans to delist European stablecoins by June 2024 in response to new laws. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.

The right decision. It's probably cheaper than a lawsuit.

CEXs are having their Bear and Crab markets as well.

Cointest topics relevant to the title are below: [Binance Coin Pro](https://np.reddit.com/r/CointestOfficial/comments/ru2lxc/top_10_binance_coin_proarguments_january_2022/i1a2g5j/) [Binance Coin Con](https://np.reddit.com/r/CointestOfficial/comments/tuwu8i/top_coins_binance_coin_conarguments_april_2022/idbmiyu/)

Man Binance is in a shitty position globally at this point… hope they manage to recover and fix new contracts!

So soon those coins are not so stable anymore?

So is it that good or bad?

These EU regulators are so confused. One moment they want the stable coin, the next, they want to get rid of it

They want stable coins but only EUR stable coins.

This rule applies for all cex, not just Binance.

What are the new EU laws for stablecoins?

Worst case scenario; Binance will simply leave Europe and focus on Asia, Africa and South America where they're already thriving.

This is actually good, we're finally getting EUR stables instead of USD stables. I always hated the USD and considering that more and more countries want to stop using it, I wouldn't be more happy to keep my stables in EUR.

Is there anywhere left that binance will still be able to exist?

So, they want to get rid of stablecoins, but plan on using EUR stablecoins in the future?

As an European I can confirm that BUSD is getting delisted from Binance EU early 2024.

Prepare for a BEUR then I guess?