Binance's EU MiCA Investigation Centers on Reverse Solicitation Exemption

The European Union's Markets in Crypto-Assets (MiCA) regulation has been scrutinized by regulators, particularly Binance, which allegedly used a 'reverse solicitation' exemption to continue serving EU customers after missing the licensing deadline.

Binance initially pursued authorization through Greece but withdrew its application in June due to high-level political intervention and central bank opposition. The exchange then pivoted towards operating via the UAE instead.

The company stated that it 'complies with applicable regulatory requirements in the jurisdictions in which it operates' and that its 'products and services continue to be reviewed and aligned with relevant regulatory obligations.'