Binance keeps serving some EU customers after MiCA deadline using reverse solicitation and offshore routing

# What happened

Bloomberg reported that Binance continued to serve and onboard some customers in the European Union more than two months after the bloc's July 1 Markets in Crypto Assets (MiCA) licensing deadline. The exchange reportedly withdrew its Greek MiCA application in June and entered July without the authorization required for EU-wide operations.

# How Binance kept operating in parts of the EU

Binance used two main methods, according to people familiar with the matter:

• MiCA's reverse solicitation provision. Under this rule, certain services may be provided if a customer approaches a crypto provider on their own initiative. Binance interpreted the provision to allow onboarding of new customers who independently seek out the platform.
• Offshore routing. Some EU-based customer trading was routed through a Binance entity in Abu Dhabi, which operates under a different regulatory framework.

These measures allowed Binance to maintain part of its European business while it pursues MiCA authorization elsewhere.

# Evidence that activity continued after the deadline

Independent checks and reporting showed continued onboarding and account activity in August across multiple EU countries. Tests across Austria, France, Germany, Spain and Belgium found that some new users could complete registration and identity verification, and crypto deposits remained available on active accounts. One specific test account created on Aug. 19 using a European identity document and residential address was verified and funded with cryptocurrency.

# Regulatory status and responses

• Binance is not listed on the European Securities and Markets Authority (ESMA) register of authorized crypto providers.
• ESMA had instructed unauthorized providers before the deadline to stop onboarding new EU customers and to limit remaining services while they seek authorization.
• Binance said it follows regulations where it operates and provided a public statement: "We are actively working toward becoming MiCA-authorised and view this as an important step in providing users with a consistent, regulated, and trusted service across the European market."

# Market position and scope

# What this means for users and regulators

For users: some EU residents continued to be able to register, verify accounts, and deposit crypto on Binance after the MiCA cutoff, either by initiating contact (reverse solicitation) or by having trades routed through non-EU entities.

For regulators: ESMA and national authorities have signalled they expected unauthorized providers to wind down EU onboarding and restrict services. ESMA has sought confirmation that Binance is properly winding down EU operations while the exchange seeks formal MiCA authorization.

# Bottom line

According to reporting, Binance used legal provisions within MiCA and offshore routing to keep serving some EU customers after missing the July 1 authorization deadline. The exchange says it intends to obtain MiCA authorization and that it complies with applicable rules where it operates.