Haberler

European supervisory authorities are investigating how Binance continues to serve EU customers without having a license stipulated by the MiCA regulations. The platform has officially notified users of the suspension of services. However, a significant part of traders from the union still work with the exchange through a structure controlled by the Abu Dhabi authorities. This situation has attracted the attention of ESMA and regulators in France, Germany and Greece.

The mechanism of the so-called reverse attraction is considered a controversial point. He allows a foreign company to provide services to EU residents only on condition that they apply on their own, without active promotion from the company. In practice, it is extremely difficult to prove that the client acted of his own free will, and not under the influence of a brand or marketing.

Under the terms of MiCA, the companies had to issue a license by the end of June 2026. Binance did not do this and announced its withdrawal from the market. However, users have retained access through the branch regulated in ADGM. Regulators want to check whether joining the platform is really initiated by the traders themselves.

ESMA has already sent requests to Binance. If the answers turn out to be inconclusive, penalties are possible. According to the Financial Times, the checks may also affect other companies that practice similar schemes. ESMA insists on a narrow interpretation of the exception — it should not become a loophole to circumvent MiCA requirements.

Binance traditionally declares compliance with the laws in the countries of its presence and continues to seek a license. At the same time, the story has a political background: earlier it was reported that ECB President Christine Lagarde prevented the approval of the exchange's application, and Changpeng Zhao blamed Greek officials for this. The proceedings go beyond the legal norms and affect the struggle for control over the European crypto market.

For Binance, this is another round of conflict with the authorities. For European clients, there is uncertainty and potential risks. For regulators, it is a test of MiCA's effectiveness in suppressing schemes that are formally legal but actually circumvent licensing. If ESMA recognizes the use of the exception as excessively broad, the consequences will affect not only Binance, but also the entire crypto services market in Europe.

Nevertheless, clients have found a working way to stay on the exchange, relying on the exception for reverse attraction, but this path is now under close supervision. While Binance is insisting on compliance with the rules and trying to obtain a license, regulators are defining the boundary between the client's initiative and avoidance of obligations.