EU Regulators Question Binance Over Unlicensed Operations in Europe
European supervisors are examining the crypto exchange's use of a limited legal exemption to operate without full authorization, as ESMA says oversight falls to national regulators.
Written by EGazette’s AI. The facts are drawn from cited sources; the analysis is the AI’s own.
European Union regulators are questioning the cryptocurrency exchange Binance over its use of a limited legal exemption that has allowed the company to operate in the EU without a full license, according to Euronews.
The exemption in question has permitted Binance to carry out certain operations in European markets without obtaining the licensing normally required of crypto service providers in the bloc, the outlet reported.
Binance has said it is seeking formal authorization to operate in the EU, according to Euronews. The European Securities and Markets Authority (ESMA) has indicated that supervisory responsibility for the exchange's activities rests with national authorities in individual member states rather than with the EU-level regulator.
The scrutiny comes amid broader efforts by EU regulators to bring cryptocurrency exchanges operating in the bloc under the region's licensing framework for digital asset providers.
Sources
- Los supervisores de la UE cuestionan a Binance por sus operaciones no autorizadas en Europa — Euronews (Español)
EGazette summarizes reporting from multiple sources; follow the links for the originals.
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