Sandmark Says Binance Still Lets EU Users Register Despite Missing MiCA License

News Editor

2026-08-21 19:28:36

Sandmark said on Aug. 19 that Binance still allowed users in Austria, France, Germany, Spain and Belgium to register and complete identity checks, whether or not they used a VPN. The accounts that passed verification did not receive any warning about a missing MiCA license and could still use services including crypto deposit reception. ESMA has told unauthorized firms to stop opening accounts, marketing and soliciting EU clients by July 1, and European regulators have already begun issuing penalties for MiCA breaches. Binance said, after withdrawing a MiCA application filed with Greek regulators, that it is still working on the relevant authorizations so it can operate in Europe on a long-term compliant basis, and that it has taken steps to align its products and services with the applicable legal framework. On Aug. 14, Austria’s Financial Market Authority fined Bitpanda €70,000 for notification and marketing violations, according to Bitcoin.com News.

Sandmark said on Aug. 19 that Binance still allowed users in Austria, France, Germany, Spain and Belgium to register and complete identity verification, with or without a VPN. Accounts that passed verification did not receive a warning about Binance lacking a MiCA license, and they could still use services including receiving crypto deposits. The European Securities and Markets Authority (ESMA) has required unauthorized firms to stop opening EU customer accounts, marketing services and soliciting clients by July 1. Binance said after withdrawing a MiCA application submitted to Greek regulators that it is still pursuing the relevant permissions so it can operate in Europe on a long-term compliant basis. The company also said it has taken steps to make its products and services comply with the applicable legal framework. European regulators have already started penalizing MiCA violations. On Aug. 14, Austria’s Financial Market Authority (FMA) fined crypto exchange Bitpanda €70,000 for notification and marketing violations, according to Bitcoin.com News.

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