European regulators, including ESMA and authorities in France, Germany and Greece, are examining Binance’s use of a reverse solicitation exemption under MiCA to serve customers in the European Union without authorization. Binance withdrew its MiCA authorization application in Greece in June and said it would seek authorization in another EU member state. ESMA on Wednesday called for stronger supervisory powers over non-EU companies that solicit European investors without MiCA authorization. ESMA’s register of non-compliant crypto providers now has 173 entries.
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