Euro-denominated buying and selling accounts for under a small share of Binance’s exercise, because the trade faces uncertainty over its European licensing prospects beneath the Markets in Crypto-Property Regulation (MiCA).
Euro (EUR) buying and selling accounts for round 1% of Binance’s spot quantity, CryptoQuant analyst Maartunn advised Cointelegraph.
“Binance’s inflows stay globally distributed, which can restrict the impression of potential MiCA-related setbacks,” Maartunn mentioned, pointing to the trade’s diversified person base throughout areas.
Supply: CryptoQuant
The info comes as Greek regulators are reportedly getting ready to reject Binance’s licensing utility forward of MiCA’s transitional deadline on July 1, a transfer that might complicate the trade’s potential to serve EU residents.
Binance ranks amongst Europe’s greatest crypto exchanges
Despite the fact that EUR buying and selling represents solely about 1% of Binance’s international spot quantity, the trade nonetheless processes a whole bunch of tens of millions of {dollars} in euro-denominated trades.
Based on CryptoQuant knowledge, Binance’s day by day EUR-pair volumes have ranged from roughly $100 million to $250 million in 2026, with occasional spikes above $600 million.
Supply: CryptoQuant
Based on a December 2024 report by Kaiko, Binance, alongside Bitvavo, Kraken and Coinbase, accounted for greater than 85% of all euro-denominated crypto buying and selling quantity.
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In contrast to Binance, Bitvavo, Kraken and Coinbase are among the many main exchanges which have already secured MiCA authorization, permitting them to supply providers throughout the EU beneath the framework’s passporting regime.
83% of CASPs have but to obtain a MiCA license
Binance’s licensing uncertainty comes as many crypto asset service suppliers (CASPs) are nonetheless adapting to MiCA’s necessities.
Based on estimates based mostly on European Securities and Markets Authority (ESMA) knowledge cited by market analyst Merlijn Geurds, solely round 210 of greater than 1,200 companies working beneath pre-MiCA registration regimes have obtained full authorization beneath the brand new framework.
Supply: Merlijn Geurds
Geurds advised Cointelegraph the hole displays the associated fee and complexity of compliance, which requires governance requirements, compliance controls and operational safeguards that many smaller companies lack.
“The result’s consolidation by design,” Geurds mentioned, including: “A smaller group of well-capitalized, licensed gamers will get a passport to all 27 states, whereas a protracted tail faces compelled migrations or cutoffs.”
Cointelegraph contacted Binance for touch upon the dimensions of its European enterprise and the potential impression of MiCA-related restrictions however had not obtained a response by publication.
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