EU Regulators Review Exemption Letting Binance Serve Europe Without MiCA License
- —ESMA and regulators in France, Germany and Greece are reviewing Binance's use of the reverse solicitation exemption
- —Binance failed to secure a MiCA license this summer but kept serving some EU clients under the exemption
- —Under MiCA Article 61, the exemption applies only if the client initiates the request without any solicitation by the firm
- —A rejection of Binance's interpretation could trigger a sanctions process
Why it matters: The outcome will determine whether the largest crypto exchange can keep serving EU clients without a MiCA license.
Source: Koin Bülteni