💣 Is Binance leaving Europe⁉️ The crypto exchange failed to obtain a Greek license while MiCA restrictions take effect on July 1

💣 Is Binance leaving Europe⁉️ The crypto exchange failed to obtain a Greek license while MiCA restrictions take effect on July 1

The process began here, and the situation continues to evolve.

➡️ In notifications sent to users, Binance stated that customers may transfer their assets to personal wallets or to other crypto-asset service providers.

➡️ Revolut🇱🇹🇬🇧 and OKX🇨🇳, which already hold authorization under the European regulatory framework, are intensifying efforts to attract new users across the European Union.

➡️ Binance has not yet clarified how staking rewards or active positions will be handled during the restricted-access phase. However, the company stated that user balances “remain safe”.

➡️ Meanwhile, some legal experts believe that unlicensed platforms may continue servicing existing customers under the legal concept of “reverse solicitation.” However, the practical application of this concept remains subject to multiple limitations.

➡️ Context: Binance’s global client base exceeds 300 million users, while the application was downloaded by European users more than 4 million times during the previous year.

#news #crypto #Europe #bad_news

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