[Old Leek Observation] #欧盟监管
What the EU is targeting this time isn’t some small exchange. It’s Binance.
European regulators are investigating:
Whether Binance can continue to provide services to some European users through MiCA’s “reverse solicitation” rule.
In simple terms:
If users proactively come to a foreign platform themselves, the overseas platform may provide services under certain conditions. But this exemption was originally meant for special situations, not for bypassing MiCA licensing.
Now ESMA, along with regulators in France, Germany, Greece, and others, are all asking:
Are these European users really the ones who came to you on their own?
If regulators ultimately determine that the requirements aren’t met, penalties may follow.
I think the part that’s truly worth watching here is:
MiCA is moving from “writing rules” into a phase of “enforcing rules.”
After this, it won’t just be Binance. Any crypto platform that hasn’t obtained an EU license but still wants to keep doing business in Europe will face the same issue.
Once crypto truly enters mainstream finance,
competition faced by exchanges won’t be just about trading fees and traffic anymore. Licenses themselves will become a competitive advantage as well.$BTC $ETH $BNB
What the EU is targeting this time isn’t some small exchange. It’s Binance.
European regulators are investigating:
Whether Binance can continue to provide services to some European users through MiCA’s “reverse solicitation” rule.
In simple terms:
If users proactively come to a foreign platform themselves, the overseas platform may provide services under certain conditions. But this exemption was originally meant for special situations, not for bypassing MiCA licensing.
Now ESMA, along with regulators in France, Germany, Greece, and others, are all asking:
Are these European users really the ones who came to you on their own?
If regulators ultimately determine that the requirements aren’t met, penalties may follow.
I think the part that’s truly worth watching here is:
MiCA is moving from “writing rules” into a phase of “enforcing rules.”
After this, it won’t just be Binance. Any crypto platform that hasn’t obtained an EU license but still wants to keep doing business in Europe will face the same issue.
Once crypto truly enters mainstream finance,
competition faced by exchanges won’t be just about trading fees and traffic anymore. Licenses themselves will become a competitive advantage as well.$BTC $ETH $BNB
