Binance and other crypto platforms to exit European market due to new regulation
Binance and hundreds of other crypto platforms are set to exit the European market from July 1st, having failed to secure authorization under the new Markets in Crypto-Assets (MiCA) regulation.
Cryptocurrency exchange giant Binance, along with hundreds of other platforms, is set to cease operations in the European market from July 1st. This development follows their failure to secure the necessary authorization under the new Markets in Crypto-Assets (MiCA) regulation. Binance, which claims over 300 million global clients and positions itself as a sector leader, has not obtained the required approval to continue its activities within the EU. The new regulatory framework aims to standardize rules for crypto-asset service providers across the bloc. This exclusion marks a significant shift in the European crypto landscape, impacting numerous platforms that have not met the updated compliance standards.
Sources: Le Monde