European authorities, including ESMA and regulators from France, Germany and Greece, are examining whether Binance continued serving EU customers without holding a license under the MiCA regulation. The inquiry focuses on the reverse solicitation exemption set out in Article 61 of MiCA, which Binance may be relying on to justify its activities. Binance withdrew its MiCA license application in Greece on June 24, 2026, one week before the July 1 deadline. This decision followed growing concerns about the platform’s compliance, particularly its anti-money laundering controls. If regulators conclude that Binance’s use of the reverse solicitation exemption was improper, the exchange could face substantial fines and be pressured to curtail services to EU customers.
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