Binance Exploits EU Reg Loophole to Keep Customer Base

Binance has found a way to keep its EU customers despite missing licensing requirements. The crypto exchange revealed that it is exploiting a loophole in the Markets in Crypto-Assets (MiCA) regulation.

The MiCA rule requires exchanges to obtain a license from the European Securities and Markets Authority (ESMA) before serving EU-based customers. However, Binance claims that this requirement only applies to new users and not existing ones.

This means that Binance can continue to serve its existing EU customer base without obtaining the necessary license.