Binance says MiCA should be judged by who it licenses, not who it excludes
Key takeaways
- Binance told its clients, via an email to users in several EU countries, that it would suspend some services and would no longer accept new registrations until further notice.
- Although Binance still believes MiCA can become the global standard for crypto, Gillian Lynch, Binance's head of Europe and the U.K.
- "Is the success of MiCA that we have regulation, or is the success that the players are regulated?" Lynch said.
The world's largest crypto exchange withdrew its MiCA license application in Greece last week after months of discussions with regulators, forcing it to notify affected users less than 10 days before the July 1 deadline, instead of the 30 days they internally contemplate. Binance told its clients, via an email to users in several EU countries, that it would suspend some services and would no longer accept new registrations until further notice.
Although Binance still believes MiCA can become the global standard for crypto, Gillian Lynch, Binance's head of Europe and the U.K. in an interview said the regime's success should be measured by how many firms it brings inside the regulated market.
"Is the success of MiCA that we have regulation, or is the success that the players are regulated?" Lynch said.