Binance brushes off Lagarde MiCA speculation, reaffirms Europe commitment
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Binance: The standard for judging MiCA should be the number of companies included in its regulation, not whether there are any rules.
PANews reported on July 3rd that, according to CoinDesk, Gillian Lynch, Binance's head of Europe and the UK, stated that the success of the EU's MiCA regulation depends on how many companies are included in the regulatory system, not just on whether it has a rulebook. Binance withdrew its MiCA application to Greece last week, leading to an emergency notice to users 10 days before the July 1st deadline, suspending some services and halting new registrations. Lynch denied a Wall Street Journal report that the European Securities and Markets Authority (ESMA) privately advised Greece to reject Binance's application, calling it a "distortion of the facts." She stated that Binance delisted the relevant accounts and reported the anomaly to law enforcement after discovering the irregularities. She also refuted allegations that Binance ignored sanctions or retaliated against compliance staff.
Binance: The effectiveness of MiCA is measured by the number of crypto companies included in the regulatory system.
Odaily reports that Binance withdrew its MiCA license application in Greece due to approval delays and regulatory uncertainty, and was forced to suspend some services and new registrations for EU users a few days before the July 1st deadline. Gillian Lynch, Binance's head of Europe, stated that the success of MiCA should be measured by how many crypto companies are brought under the regulatory framework, and defended Binance's financial crime control measures, refuting allegations in a recent Wall Street Journal report. Lynch stated that removing Binance from MiCA would harm the European crypto market by removing key liquidity and infrastructure, and Binance remains committed to obtaining a new license and remaining in Europe. (CoinDesk)
Binance CEO responds to EU MiCA regulations taking effect: Will fully support user transition.
According to Mars Finance, on July 1st, Binance Co-CEO Richard Teng stated, "With the MiCA-related changes taking effect in the EU today, I want to personally assure affected users that we will fully support you through this transition in a prudent, clear, and responsible manner. After July 1st, affected users will continue to have access to the informed options, including applicable withdrawals. Binance is working diligently behind the scenes, including working closely with regulators to responsibly address this transition and continue to serve users in the best possible way. Binance is communicating directly with affected users about next steps and alternative solutions. The EU's Crypto Asset Markets Regulation (MiCA) framework came into effect on July 1st, and the European Securities and Markets Authority (ESMA) called on unauthorized crypto asset service providers (CASPs) to orderly exit their businesses by the end of the MiCA transition period."
With the MiCA deadline fast approaching, European crypto companies are accelerating their relocation to the UAE.
According to CoinDesk, as the July 1st deadline for the EU's MiCA regulatory framework approaches, many European crypto companies are turning their attention to the UAE. Irina Heaver, a lawyer at the Dubai law firm NeosLegal, stated that inquiries from European founders have increased significantly over the past year and a half, currently exceeding 120 inquiries per week, with about half originating from European countries. Heaver points out that many founders are dissatisfied with the bureaucracy and regulatory burden in Europe and are opting for the UAE. The UAE's crypto regulatory framework is specifically designed for digital assets, with a faster setup process, typically completed in a few days, while in Europe it can take months. Furthermore, a UAE license can cover a market of approximately 4 billion people in Asia and North Africa. Recently, Binance withdrew its MiCA application in Greece and notified some EU users that some services would be suspended. OKX Europe CEO Erald Ghoos previously stated that approximately 80% of crypto companies will fail the MiCA compliance review. Heaver warned that this could lead to a "brain drain, tax revenue loss, and job loss" in Europe.
Gate Founder Dr. Han: Gate's early completion of MiCA licensing will push the European crypto market towards fair competition.
According to ChainCatcher, CoinDesk reports that with the full implementation of the EU's Crypto Asset Market Regulation (MiCA), the European digital asset market has entered a new era of unified regulation. Regarding the impact of MiCA on the industry landscape, Gate founder and CEO Dr. Han stated in an interview that Gate began its European compliance preparations several years ago and completed its MiCA and Payment Institution (PI) license preparations ahead of schedule in 2025. He pointed out that the significance of MiCA lies not only in establishing a unified regulatory framework, but more importantly, in putting all market participants on a level playing field. "Only when all platforms adhere to the same rules can the industry truly compete around products, services, and user experience." He also stated that if unauthorized platforms continue to provide services to European users, a level playing field will remain a challenge, making effective regulatory enforcement equally crucial. Currently, Gate Europe is leveraging its MiCA and PI licenses to continuously improve its compliance system, risk management, and operational governance capabilities, and is continuously deepening its global compliance strategy. In addition to Europe, multiple Gate entities have completed relevant regulatory registrations, license applications, or obtained authorizations and approvals in jurisdictions such as Malta, the Bahamas, Japan, the United States, Australia, and Dubai. Through multi-regional regulatory approvals, Gate has solidified its global business foundation and continues to provide global users with safer, more transparent, and more efficient digital asset services. Looking ahead, Gate will continue to adhere to a parallel development strategy of compliance and innovation, promoting the long-term healthy development of the digital asset industry through superior product experiences and global service capabilities.
The European Parliament has called for a review of DeFi and NFT regulation, and a follow-up framework for MiCA has been put on the agenda.
PANews reported on July 8th that, according to a report by Crypto.news, members of the European Parliament on Tuesday adopted a policy position report, requesting the European Commission to review whether DeFi, staking, crypto lending, NFTs, and tokenized financial assets should be included in the subsequent regulation under the MiCA framework. The report does not amend existing laws or add new obligations, but sets priority directions for the next phase of crypto regulation. It also calls for consistency among member states, warning that differing national practices could weaken the EU's single market for digital assets. In May, the European Commission launched a public consultation on whether the MiCA should be extended to more crypto activities and whether to reconsider restrictions on interest-bearing stablecoins. The report takes a positive stance on tokenization and euro-denominated stablecoins, stating that unified implementation of rules would enhance the competitiveness of the European financial market.