EU clarifies rules for storing and transferring USDT stablecoins
Date: 2025-03-06 Author: Henry Casey Categories: CRYPTO PAYMENTS
The European Securities and Markets Authority (ESMA) has confirmed that, although USDT stablecoins do not comply with the established requirements, their storage and transfer do not fall under the definitions of “public offer” or “admission to trading” under the MiCA regulation. In an interview with Cointelegraph, an ESMA representative clarified that such transactions remain permitted under Sections III and IV of MiCA, as they do not in themselves violate the provisions of the regulation.
However, ESMA stressed that while deposits and withdrawals of USDT and similar assets are not directly prohibited, European crypto asset service providers (CASPs) should strengthen their supervision of services that allow users to acquire such assets. These measures are in line with the recommendations published on January 17, 2025, in which the regulator calls on CASPs to ensure transparency and fair provision of cryptocurrency services. The regulator notes that special attention should be paid to the potential risks associated with the circulation of such stablecoins, including their use in financial transactions and compliance with anti-money laundering rules.
In addition, the largest cryptocurrency exchange Binance previously announced that from March 31, 2025, it will stop supporting trading pairs with USDT, FDUSD, TUSD, USDP, DAI, AEUR, UST, USTC and PAXG for clients located in the European Economic Area. The decision comes as part of the exchange's efforts to align its operations with EU regulations and prepare for the full implementation of the MiCA rules.
