European regulators are examining how Binance continues to serve customers in the European Union after the cryptocurrency exchange failed to secure authorization under the bloc’s Markets in Crypto-Assets framework, according to reporting by the Financial Times cited by Decrypt. The review could lead to enforcement action, including fines, if supervisors are not satisfied with Binance’s explanations.
Regulators scrutinize Binance’s access to EU customers
The European Securities and Markets Authority (ESMA), together with national regulators in France, Germany and Greece, is looking into Binance’s use of the “reverse solicitation” exemption. The provision, set out in Article 61 of MiCA, can apply when a customer outside the EU provides a service at the client’s “own exclusive initiative,” rather than after being approached or solicited by the firm.
Regulators have reportedly asked Binance for information about how the arrangement works. The issue is whether the exemption is being used within its narrow limits or to allow an unlicensed platform to continue operating broadly in the bloc.
ESMA’s guidance says reverse solicitation must be assessed on the facts of each case. It also says contractual terms or disclaimers cannot override evidence that a customer was solicited. The authority has described the exemption as narrowly framed and said it should not be used to avoid MiCA requirements. The Dutch regulator, the AFM, has similarly said firms cannot simply declare that reverse solicitation applies.
Binance’s licensing position
MiCA required firms without the necessary authorization to begin winding down EU operations from July 1. Those firms were expected to serve existing customers only as needed to help them transfer or sell their holdings.
Binance did not obtain a MiCA license this summer. Its registrations in France, Italy, Lithuania, Poland, Spain and Sweden have also lapsed under the new framework. According to one user and two people familiar with the arrangement, customers in EU countries where Binance does not hold local registrations are served through an entity regulated in Abu Dhabi. That entity received authorization in December 2025.
Binance withdrew its MiCA application in Greece in June, shortly after a Reuters report that the country’s Hellenic Capital Market Commission was expected to reject it. The exchange said it would seek authorization in another member state and take steps to remain compliant before the July deadline. It also warned that some customers could be affected.
Binance said it complies with applicable rules wherever it operates, regularly reviews its products against regulatory obligations and is actively working toward MiCA authorization. French, German and Greek regulators, as well as ESMA and the AFM, did not comment specifically on the Binance case. The review reportedly also includes other, smaller firms.
Moneyiar market picture
Moneyiar data at 09:23–09:24 on October 1, 2026, showed BNB at $766.9793923369, up 0.65% over 24 hours and down 0.02% over seven days. Solana was $117.7784603229, down 0.7% in 24 hours and up 3.82% over seven days. Monad stood at $0.0321003976, gaining 17.97% over 24 hours and 34.58% over seven days, while Ontology was $0.0586316734, up 0.77% and 6.94% over the same periods.
