🔸 There is a lot of confusion about why $PAXG has disappeared from Binance for European users. The reason is the new European MiCA law, which now classifies PAXG as an "asset-referenced token".
PAXG, being a token on the Ethereum network (ERC-20), is easy to use and move between wallets, but the new law requires its issuer (Paxos) and exchanges like Binance to meet very strict requirements, such as having specific licenses in the EU.
This same issue is the reason why stablecoins like USDT are also under scrutiny in Europe. The law limits the issuance and use of tokens that are not in euros to protect the local economy.
This measure is not just for PAXG; it is a massive regulatory change affecting many tokens that are not native to the EU. If you have PAXG or USDT, the token has not disappeared, you simply will not be able to trade them on Binance. $PAXG
PAXG, being a token on the Ethereum network (ERC-20), is easy to use and move between wallets, but the new law requires its issuer (Paxos) and exchanges like Binance to meet very strict requirements, such as having specific licenses in the EU.
This same issue is the reason why stablecoins like USDT are also under scrutiny in Europe. The law limits the issuance and use of tokens that are not in euros to protect the local economy.
This measure is not just for PAXG; it is a massive regulatory change affecting many tokens that are not native to the EU. If you have PAXG or USDT, the token has not disappeared, you simply will not be able to trade them on Binance. $PAXG