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Binance regulatory compliance in the European Union

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2026-09-18 05:52 UTC → 2026-09-18 10:37 UTC · added removed

Binance has faced significant regulatory hurdles in the European Union regarding compliance with the Markets in Crypto-Assets (MiCA) framework. Following the July 1 deadline for MiCA compliance, the exchange utilized the ‘reverse solicitation’ exception and processed certain trades through an entity in Abu Dhabi to maintain its presence in the region despite lacking a formal license. The situation escalated when Binance withdrew its application for an EU-wide license, which it had sought through Greek regulators. This withdrawal followed alleged intervention by Reports from the Wall Street Journal indicate that European Central Bank (ECB) President Christine Lagarde, who reportedly expressed concerns Lagarde personally intervened to prevent the exchange from obtaining a MiCA license through Greece. Lagarde reportedly contacted Greek Prime Minister Kyriakos Mitsotakis. The objections were reportedly based on Mitsotakis to express opposition to the application. While the Hellenic Capital Market Commission had indicated that Binance’s history of application was complete and nearing approval, the process stalled following this intervention. Binance ultimately withdrew its application in June 2026 before a formal decision was reached. Lagarde’s reported concerns included Binance’s previous regulatory violations issues in the United States and the perceived threat potential risk that dollar-based dollar-denominated stablecoins pose to could undermine the stability of the euro and the development of the ECB’s digital euro project. While Greek authorities previously indicated they would signal approval to Although the European Securities and Markets Authority (ESMA), ECB does not hold formal legal authority to grant or veto MiCA licenses—a power reserved for national regulators—the reports suggest that political pressure played a decisive role in the process was halted. outcome. As a result, Binance failed to secure the necessary licensing by the deadline, leading to the cessation of its promotional services within the EU market.

Versions

  1. 2026-09-18 10:37 UTC Binance regulatory compliance in the European Union
  2. 2026-09-18 05:52 UTC Binance regulatory compliance in the European Union

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