Binance Continues to Accept EU Clients Without MiCA License

Despite the implementation of the MiCA regulation in the European Union on July 1st, the Binance exchange has been found to still be accepting new clients from several EU countries without a MiCA license. This was discovered through an investigation by Sandmark on August 19th, which found that the exchange was allowing users from France, Germany, Austria, Spain, and Belgium to open accounts without any restrictions.

The investigation revealed that the exchange was fully validating KYC (Know Your Customer) accounts for European users, granting them full access to financial operations. This included direct access to crypto deposits, despite the fact that Binance had previously withdrawn its MiCA authorization request with Greek authorities.

According to the ESMA (European Securities and Markets Authority), unauthorized companies should immediately halt recruiting European clients and create new accounts. However, Binance claims it will continue to comply with European standards and operate long-term in the region.