Binance Uses MiCA Workaround to Keep some EU Customers: Report
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7 Articles
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Cryptocurrency News | Cryptocurrency Prices | Market CapBinance uses MiCA workaround to keep some EU customers: report
Binance has continued serving and onboarding some European Union customers more than two months after missing the bloc’s MiCA licensing deadline, using regulatory provisions and offshore routing while it seeks authorization elsewhere. According to a Bloomberg report, the world’s largest…
Binance claims to continue to serve some customers in the European Union after the MiCA deadline through the so-called reverse application and routing of operations through Abu Dhabi, while regulators ask for details about their departure and the exchange prepares a new licence application.
According to ChainCatcher, citing Bloomberg and sources familiar with the matter, Binance announced its plan to withdraw from the EU in June. The market widely expected it to be forced to leave due to not obtaining a MiCA license. However, the July 1st deadline has passed, and Binance continues to operate in the EU through various means. European Central Bank President Christine Lagarde personally intervened, leading to Binance's application bei…
Binance's "window" to remain in the EU.
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