Binance Delists Tether的USDT（Tether Usd）Stablecoin，自2025年5月15日生效

Binance是世界领先的加密货币交易所，宣布了一次地震转变，该转变通过加密货币贸易社区发出冲击波

Binance, the world’s leading cryptocurrency exchange, has announced the removal of Tether’s USDT (Tether USD) from its platform effective May 15, 2025. The decision, detailed in a post on Binance Square on March 15, 2025, marks a pivotal moment for traders globally.

Binance是全球领先的加密货币交易所，宣布从2025年5月15日从其平台上删除Tether的USDT（Tether USD）。该决定在2025年3月15日在Binance Square的一篇文章中详细介绍了全球贸易商的关键时刻。

This move, driven by regulatory pressures and internal strategy, will see Binance transition users to alternative stablecoins, such as BUSD (Binance USD) and USDC (Circle USD), by the deadline, with open orders closed and funds converted accordingly.

在监管压力和内部策略的驱动下，此举将使二元转变用户向替代稳定的稳定者，例如Busd（Binance USD）和USDC（Circle USD），截止日期，开放订单已关闭，并相应地转换了资金。

The exchange’s statement reads:

交易所的声明如下：

“As part of our ongoing efforts to maintain a compliant and optimal trading environment, we will be adjusting our available trading pairs and closing/cancelling relevant orders in accordance with the new regulations.”

“作为我们为维持合规和最佳交易环境的持续努力的一部分，我们将根据新法规调整可用的交易对，并关闭/取消相关订单。”

The adjustment follows the European Union’s (EU) new crypto regulations, known as Markets in Crypto-Assets (MiCA), which are set to take effect in 2025. These regulations place significant obligations on stablecoin issuers to maintain sufficient reserves and comply fully with anti-money laundering (AML) standards.

调整是遵循欧盟（EU）的新加密法规（被称为加密资源市场（MICA）的市场），该法规将于2025年生效。这些法规对Stablecoin发行人施加了重要义务，以维持足够的储备金并完全符合反资金Landering（AML）标准（AML）。

While Tether’s flagship token has been a dominant force in the crypto market, it has also faced difficulties fully meeting these requirements, particularly regarding reserve transparency.

尽管Tether的旗舰令牌是加密货币市场上的主要力量，但它也面临着完全满足这些要求的困难，尤其是在储备透明度方面。

Implications for Traders

对交易者的影响

USDT’s delisting from Binance has far-reaching implications for traders, especially those who depend on its stability and liquidity for optimal trading performance.

USDT从Binance出发的偏见对贸易商具有深远的影响，尤其是那些依靠其稳定性和流动性来实现最佳交易绩效的人。

1. Loss of a Liquidity Anchor

1。流动性锚的损失

USDT has been a cornerstone of crypto trading, offering a stable, dollar-pegged asset for pricing and settling trades. Its removal disrupts liquidity across Binance’s ecosystem, potentially leading to wider spreads and higher volatility for BTC, ETH, and other pairs.

USDT一直是加密货币交易的基石，为定价和结算交易提供了一个稳定的美元固定资产。它的去除会破坏二元生态系统的流动性，可能导致BTC，ETH和其他对的更广泛的差异和更高的波动性。

Traders accustomed to using USDT as a base currency will need to adapt quickly to alternatives like BUSD or USDC, which may have different liquidity profiles. This shift could favor traders focused on smaller altcoins, as these pairs typically have lower liquidity and wider bid-offer spreads.

习惯于使用USDT作为基本货币的交易者需要迅速适应BUSD或USDC等替代品，这些替代品可能具有不同的流动性概况。这种转变可能会有利于专注于较小山寨币的交易者，因为这些对通常具有较低的流动性和更广泛的出价差价。

2. Impact on Trading Strategies

2。对交易策略的影响

Many traders rely on USDT for arbitrage opportunities due to price discrepancies between exchanges, especially during periods of market volatility. Its delisting could hinder arbitrage strategies, especially in smaller markets where liquidity is crucial for executing trades quickly and efficiently.

由于交易所之间的价格差异，尤其是在市场波动期间，许多交易者依靠USDT依靠USDT来获得套利机会。它的推翻可能会阻碍套利策略，尤其是在流动性快速有效地执行交易至关重要的较小市场中。

Moreover, traders using futures contracts for hedging or leveraged trading will be affected by the change in margin currency. For instance, futures traders using USDT-margined contracts will face new margin requirements, potentially increasing costs or altering risk profiles.

此外，使用期货合约进行对冲或杠杆交易的交易者将受保证金货币变更的影响。例如，使用USDT合同的期货交易者将面临新的保证金要求，可能增加成本或改变风险状况。

Finally, Binance’s transition to BUSD and USDC could introduce new fee structures or settlement procedures, which could affect traders’ profitability, especially those engaging in high-frequency trading.

最后，Binance向BUSD和USDC的过渡可能会引入新的费用结构或和解程序，这可能会影响交易者的盈利能力，尤其是那些从事高频交易的盈利能力。

3. Regulatory Ripple Effects

3。监管连锁反应

Binance’s move reflects broader regulatory scrutiny on stablecoins, evident in the EU’s MiCA regulations and the U.S. administration’s efforts to introduce a comprehensive crypto regulatory framework.

Binance的举动反映了对Stablecoins的更广泛的监管审查，这在欧盟的MICA法规和美国政府引入全面的加密监管框架方面所做的努力。

The MiCA regulations, in particular, require stablecoin issuers to maintain sufficient reserves and comply with AML requirements. These regulations are designed to mitigate financial stability risks posed by stablecoins, especially in the wake of the collapse of FTX and other cryptocurrency firms.

特别是，云母法规要求Stablecoin发行人保持足够的储量并符合AML要求。这些法规旨在减轻Stablecoins带来的金融稳定风险，尤其是在FTX和其他加密货币公司崩溃之后。

4. Opportunities for Alternatives

4。替代机会

While the delisting poses challenges, it also opens doors for other stablecoins. BUSD, issued by Paxos and backed by Binance, and USDC, backed by Circle and regulated in the U.S., are positioned to fill the void left by USDT.

虽然将挑战提出挑战，但它也为其他稳定币打开了门。由Paxos发行的Busd并由Binance支持，由Circle并在美国进行监管的USDC定位，可以填补USDT留下的空隙。

These alternatives offer similar stability to U.S. dollar-linked assets, but with potentially lower regulatory risks. BUSD, in particular, is known for its close integration with Binance’s ecosystem, offering users seamless trading experiences and potentially prioritized liquidity.

这些替代方案提供了与美元挂钩资产相似的稳定性，但有可能较低的监管风险。尤其是BUSD以与Binance的生态系统的密切整合而闻名，为用户提供了无缝的交易经验和潜在的优先流动性。

However, the transition could create short-term confusion and volatility as market participants adjust to the changes in available pairs, trading terms, and overall market dynamics.

但是，随着市场参与者适应可用对，交易条款和整体市场动态的变化，过渡可能会引起短期混乱和波动性。

Binance’s Strategic Preamble

Binance的战略序言

The exchange’s decision isn’t arbitrary—it’s a calculated response to a shifting regulatory landscape and market dynamics. Binance is pivoting to maintain compliance with the EU’s MiCA regulations, which come into effect in 2025, and these regulations will have a cascading effect on crypto exchanges worldwide.

交易所的决定不是任意的，这是对不断变化的监管格局和市场动态的计算回应。 Binance正在旋转遵守欧盟在2025年生效的欧盟云母法规，这些法规将对全球的加密交易所产生级联影响。

The EU’s new rules mandate that crypto exchanges operating within the bloc must provide complete pairs with at least two designated stablecoins chosen by the exchange.

欧盟的新规则规定，在集团内运行的加密交易所必须提供完整的配对，并至少由交易所选择的两个指定的stablecoins提供。

However, Binance’s statement on adjusting its trading pairs to comply with MiCA also highlights another crucial factor: the ongoing difficulties that Tether has encountered in fully meeting regulatory requirements, particularly regarding reserve transparency and AML standards.

但是，Binance关于调整交易对以遵守云母的交易的声明也突出了另一个关键因素：Tether在完全满足监管要求时遇到的持续困难，尤其是关于储备透明度和AML标准。

This issue has been a subject of discussion among crypto traders and legal experts, especially in the U.S., where Tether’s activities have faced scrutiny from the Commodities Futures Trading Commission (CFTC).

这个问题一直是加密货币交易者和法律专家的讨论主题，尤其是在美国，在美国的活动受到商品期货交易委员会（CFTC）的审查。

Despite the difficulties encountered by Tether’s flagship token in meeting these regulations in their entirety, USDT has remained

尽管Tether的旗舰令牌在满足这些法规时遇到了困难，但USDT仍然存在