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Convicted CZ’s 100% Binance Ownership in FranceThreatens EU Access: End of Binance in Europe?

Published 05/01/2024, 01:16 AM
Updated 05/01/2024, 01:45 AM
Convicted CZ’s 100% Binance Ownership in FranceThreatens EU Access: End of Binance in Europe?
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  • Binance’s regulatory challenges in France could set precedents for its operations across the EU.
  • Changpeng Zhao’s legal troubles further complicate Binance’s regulatory standing in Europe.
  • The outcome of Binance’s legal battles will shape regulatory oversight in the European cryptocurrency market.

The European regulatory squeeze threatens Binance’s ability to penetrate this vibrant market. The upcoming implementation of MiCA, the European crypto regulation, may become the tipping point for Binance’s correspondent sector in the European Union.

Amidst these regulatory challenges, Binance’s significant presence in France comes under scrutiny. Despite its subsidiary, Binance France, being registered with the Financial Markets Authority (AMF), concerns arise due to the involvement of a convicted criminal as the sole shareholder. This raises doubts about Binance’s eligibility for the MiCA license necessary to continue its European operations.

William O’Rorke, a lawyer specializing in cryptocurrency law, underscores the crucial status of the issue, indicating that the ban on Binance in France could initiate a chain reaction in other EU countries. Binance faces height…

The post Convicted CZ’s 100% Binance Ownership in FranceThreatens EU Access: End of Binance in Europe? appeared first on Coin Edition.

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