Binance continues serving EU customers after missing MiCA licensing deadline

Sep 4, 2026

Binance Holdings Ltd. continues to serve and onboard European Union customers despite missing the July 1, 2026 MiCA licensing deadline and withdrawing its Greek application. The exchange maintains its market presence by routing trades through an Abu Dhabi entity and utilizing "reverse solicitation" rules. This ongoing activity persists despite regulatory scrutiny from ESMA and behind-the-scenes intervention by ECB President Christine Lagarde to block Binance's Greek licensing bid.

Binance EU operations post-deadline

▪Binance Holdings Ltd. accounted for more than 45% of global spot crypto trading volume as of late August 2026, according to data from crypto research firm Kaiko.
▪Binance Holdings Ltd. continues to serve and onboard some European Union customers despite missing the July 1, 2026 Markets in Crypto-Assets (MiCA) licensing deadline.
▪Binance Holdings Ltd.'s market share in euro-denominated trades ranged from 3% to 4% in late August 2026, remaining largely unchanged from levels before the July 1, 2026 MiCA deadline.

Reverse solicitation provision usage

▪Binance Holdings Ltd. has relied on the Markets in Crypto-Assets (MiCA) "reverse solicitation" provision to onboard new European Union customers who independently seek out and register on the platform.
▪Binance Holdings Ltd. used the reverse-solicitation workaround to allow some restricted customers in France, Spain, Italy, Poland, Sweden, and Lithuania back onto the exchange.

Abu Dhabi entity routing

▪Binance Holdings Ltd. has routed trading for some of its European Union-based customers to an entity in Abu Dhabi, which operates under a different regulatory framework.
▪The routing of European Union customer trades to Abu Dhabi has allowed Binance Holdings Ltd. to maintain part of its European business while pursuing MiCA authorization elsewhere.

Greek MiCA application withdrawal

▪The Hellenic Capital Market Commission confirmed that no decision was made on Binance Holdings Ltd.'s application because the company withdrew the filing prior to the board meeting.
▪Binance Holdings Ltd. withdrew its Markets in Crypto-Assets (MiCA) license application in Greece on June 16, 2026, the day before the Hellenic Capital Market Commission planned to discuss it.

ECB intervention in licensing

▪The European Central Bank declined to comment on reports regarding Christine Lagarde's intervention in Binance Holdings Ltd.'s Greek licensing application.
▪European Central Bank President Christine Lagarde personally intervened behind the scenes to ensure that Binance Holdings Ltd.'s Greek licensing application would not be approved.

ESMA wind-down oversight

▪An ESMA spokesperson declined to comment on Binance Holdings Ltd. specifically, stating that national regulators are responsible for imposing sanctions over non-compliance.
▪The European Securities and Markets Authority (ESMA) sent a letter to Binance Holdings Ltd. seeking confirmation that the exchange is winding down its European Union business appropriately.