Cryptocurrency exchanges like Uphold and Binance are preparing for the implementation of the European Union’s Markets in Crypto-Assets (MiCA) regulations by delisting certain stablecoins.

Uphold will remove DAI, FRAX, GUSD, USDP, TUSD, and USDT from its operations in the EEA starting July 1, opting to support USDC, EURC, and PYUSD instead.

Similarly, Binance has ceased offering stablecoin funding for derivatives products in the EEA, complying with MiCA's stringent rules that require stablecoin issuers to obtain licenses and adhere to 1:1 reserve ratios, while banning algorithmic stablecoins outright.

These moves reflect exchanges’ efforts to align with upcoming regulatory frameworks in Europe.