In short
- Source report Reuters He also cited sources as saying that the company’s MiCA project has been rejected by the European Union.
- Binance said on Tuesday that it believes it is operating in accordance with the rules in force in the EU.
- If the company is not approved, it must suspend operations in the EU.
Leading crypto exchange Binance said on Tuesday that it believes it is working in cooperation with the European Union Markets in Crypto Assets (MiCA) management plan, following a report from Reuters that the company may lose its ability to provide services to EU residents.
Citing two sources familiar with the matter, Reuters he reported that the Greek market regulator is expected to reject Binance’s request before the June 30 deadline.
“We have been pursuing the MiCA license and have worked effectively with the regulators over the past 18 months, including the application process with the HCMC in Greece,” the spokesman for the change told. Decrypt.
“Our understanding is that HCMC has completed a review of the project and found it to be in line with MiCA’s requirements,” he added.
The company established an operating company in Greece in December and applied for a MiCA permit in January via HCMC. If approved, Binance – the world’s top crypto market by daily trading volume – could pass its services to other EU countries, such as France, Spain, and Germany.
Otherwise, it should stop the work in the European Union – literally Reuters he says he might be close.
“Our priority is to minimize disruption and inform users. We will provide more information directly when additional information is available, including information on other options and options available,” the company wrote on X.
In a blog post, the company indicated that Europe is still “in the middle of (its) long-term plans,” and “remains ready and willing to work under the joint MiCA regime.”
In January, the authorities in France showed this all around 90 crypto companies were operating in the region without MiCA compliancealthough 30% had applied for a license at that time.
Last year, a the country’s rulers threatened to not allow “passing” or to transfer the compliance allowed by the MiCA authorizations in all EU countries, as it seeks to improve supervision at the European Securities and Markets Authority (ESMA).
A Binance spokesperson said Decrypt that his understanding is that his MiCA project was reviewed at the ESMA level.
Daily Debrief A letter
Start each day with top stories right here, including originals, podcasts, videos and more.
