European Regulators Scrutinize Binance's Use of MiCA Exemption

European regulators are questioning Binance regarding its reliance on the 'reverse solicitation' exemption under the Markets in Crypto-Assets (MiCA) regulation. This provision allows the exchange to continue serving EU clients despite lacking a MiCA license after the June 30 transition period ended. While Binance maintains it is working to comply with local regulations and obtain necessary approvals, it has withdrawn its license application in Greece and stopped onboarding new users in France. The company currently holds no MiCA license, and its operations in the region remain under regulatory review.