Binance continues EU operations without MiCA license

Binance is still operating in the EU despite missing the July 1 deadline for the Markets in Crypto-Assets regulation and not securing a MiCA license. The platform has implemented various workarounds, including asking users in six EU countries with local entities to migrate or withdraw. Some users regained access by invoking a clause that allows service upon direct request. Additionally, Binance is reportedly routing some EU users' order flow to an Abu Dhabi-based entity to circumvent EU regulations. The European Securities and Markets Authority has demanded proof of Binance's progress in winding down its EU operations. Binance maintains over 45% of the global spot trading volume, with its euro-denominated trading share around 3% to 4%, remaining stable from previous levels.

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