USDC is Now MiCA-Compliant: Here’s How It Affects Your Binance Account

This announcement affects only users in the the European Economic Area (EEA).

Fellow Binancians,

On 2024-07-01, Circle announced that it had been authorized to issue USDC as a MiCA-compliant e-money token (“EMT”), making USDC the first major Regulated Stablecoin in the EEA. 

This means that USDC will continue to be available across most of Binance’s product offerings, such as, but not limited to: 

• Convert

  • Buying and selling of USDC on Convert remains available. Other stablecoins can be converted into USDC. 

• Earn 

  • Subscriptions of USDC on Earn Products, such Simple Earn, Cloud Mining & Web3 Wallet Earn, including any Auto-Subscribe features remain available.

• Binance Loans & VIP Loans

  • USDC loan applications remain available. 

  • Using USDC as collateral for these products remain available. 

• Referral Commission/Rebate, Rewards 

  • Referral commissions or rebates for Spot and Margin will be paid in USDC.

  • Most rewards across the platform, for example from the Rewards Center and Campaigns will be changed to USDC, unless it is specified that other tokens could be issued in the campaigns’ terms and conditions. 

• Buy Crypto with Fiat

  • Purchase of USDC with Fiat currency and credit card through the “Buy Crypto” page remains available. All on-going recurring buy plans currently set from local fiat currencies to non-Regulated Stablecoins will be automatically transitioned to USDC.

• Margin

  • The transfer of USDC as margin collateral into the Margin Wallet remains available.

  • USDC borrowing across Cross Margin, Isolated Margin, and Cross Margin Pro products remains available. 

• P2P Trading 

  • Purchasing and selling of USDC via P2P remains available. 

Please note that Spot trading for all stablecoins remains available after 2024-07-01.

Binance’s handling of Unauthorized Stablecoins remains the same as per previous announcement. There will not be any forced conversions. 

For additional queries and information, please do not hesitate to contact Binance Customer Service agents. Please stay tuned for more campaigns and product launches with USDC on Binance’s platform. 

Thank you for your support!

Binance Team

2024-07-01