Story perspectives

Binance Stays in EU Despite MiCA Rejection, Faces Ban

6/25/2026

Summary

Binance Refuses Exit

Binance says it will not leave the EU after its MiCA licence was rejected, even though its operating permission ends June 30.
Greek, Irish and Latvian regulators denied Binance citing money-laundering penalties, a complex structure and a risk-taking culture.
ESMA warned Binance must stop onboarding EU clients after July 1 without a licence.
Binance says it hired compliance staff and removed founder Changpeng Zhao after a $4.3 billion settlement.

Summary

Binance Faces Licence

Binance processes about 40% of Europe’s crypto-trading volume, risking disruption of that market share if a licence is denied.
The exchange warned that a licensing delay may cost the EU liquidity, jobs and tax revenue.
After Greece rejected its licence, Binance may seek authorisation in France, creating regulatory arbitrage and exposing MiCA interpretations.
Spain’s Bit2Me secured full CASP authorisation from the CNMV in July 2025, illustrating providers gaining EU passports.

History

Historical Context

After the United States’ FinCEN issued KYC-AML rules for crypto-fiat exchangers in 2013, the European Union codified similar requirements in its Fifth Anti-Money-Laundering Directive of 2018, obliging all member states to license exchanges and to vet transactions above €1,000. The directive’s impact echoed later penalties such as the $100 million fine imposed on BitMEX in 2022, driving broader compliance across the sector.

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Binance Refuses Exit

Binance says it will not leave the EU after its MiCA licence was rejected, even though its operating permission ends June 30.
Greek, Irish and Latvian regulators denied Binance citing money-laundering penalties, a complex structure and a risk-taking culture.
ESMA warned Binance must stop onboarding EU clients after July 1 without a licence.
Binance says it hired compliance staff and removed founder Changpeng Zhao after a $4.3 billion settlement.

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