ESMA and National Regulators Scrutinize Binance’s Reliance on ‘Reverse Solicitation’ Exemption in the EU, FT Reports

EU regulators, including ESMA and national authorities, are scrutinizing Binance's use of the reverse solicitation exemption after it failed to secure a MiCA license, according to the Financial Times. The exemption may let Binance serve EU clients without full authorization, but regulators question its legitimacy.