Bloomberg reported that Binance was expected to withdraw from the European Union (EU) after failing to secure a MiCA (Markets in Crypto-Assets) license in the Eurozone, but it has continued to maintain its business within the EU through various circumvention methods even after the July 1 deadline for full implementation. Although it requested users in six EU countries where it had existing local entities to transfer or withdraw from the platform, some customers regained trading authorization by utilizing a clause stating "the customer directly requested the service." It is known that Binance is supporting trades by routing the trading volumes of some EU users to an entity located in Abu Dhabi, outside the EU's regulatory jurisdiction. The European Securities and Markets Authority (ESMA) has sent a letter to Binance, demanding proof of the progress of its EU business withdrawal. Currently, Binance maintains a global spot trading volume market share of over 45%, and its Euro-denominated trading volume market share also remains at approximately 3-4%, showing no significant change from before.
