Binance Faces EU Regulatory Scrutiny Over MiCA Compliance

European regulators, including the European Securities and Markets Authority (ESMA) and authorities in France, Germany, and Greece, are reviewing whether Binance is appropriately using the "reverse solicitation" exemption to serve EU customers after failing to secure a MiCA license. Reports suggest that European Central Bank President Christine Lagarde previously urged Greek officials to block the exchange's application due to concerns over its past US legal issues and potential impacts on the digital euro. ESMA is currently seeking expanded enforcement powers to address such regulatory challenges.