Chief executive officer of crypto exchange<\/a> Binance Changpeng Zhao or \u2018CZ\u2019 has on Wednesday clarified on rumors around the platform\u2019s plans to eventually delist stablecoins for Europe users. The move was said to be effected thanks to the European Union\u2019s Markets in Crypto Assets (MiCA) rules, which will come into effect from 30 December 2024.<\/p>\n Also Read: Ethereum Price Prediction: FOMC Rate Hike Pause Bites, Can ETH Defend $1,600 Support?<\/strong><\/a><\/p>\n <\/p>\n The Binance cofounder had responded to claims that the platform\u2019s Europe entity was planning to delist all the stablecoins in Europe by June 30, 2024. He said a comment by Marina Parthuisot, Binance\u2019s French legal director was misunderstood. Parthuisot reportedly said the European Union is yet to give an approval to the operation of any stablecoin. He said<\/a> the comment was taken out of context and that the platform is actually preparing to launch other stablecoins.<\/p>\n \u201cWe (Binance) have a couple of partners launching EUR and other stable coins, in fully compliant manners of course.\u201d<\/p>\n<\/blockquote>\n The Binance CEO had marked the claims in his trademark \u201c4\u201d category<\/a>, which means the news is part of the fake news fear, uncertainty and doubt (FUD) package.<\/p>\n <\/p>\n <\/p>\n The European Commission has been working on implementing the MiCA rules to create a regulatory framework for crypto assets. The regulations cover<\/a> issuance and trading of crypto assets and the operation of crypto assets service providers. The regulation also includes a framework for stablecoins, which are said to be facing a softer regulatory regime than other types of tokens.<\/p>\n The European regulatory regime could turn out to be a much needed example for other jurisdictions in terms of implementation. Binance is currently facing<\/a> a lawsuit filed by the U.S. Securities and Exchange Commission over violation of securities laws.<\/p>\nCZ Explains Binance View On Stablecoins<\/h2>\n
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What Are The MiCA Rules?<\/h2>\n
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