ESMA warns Binance must serve EU clients through MiCA-licensed entity

The European Securities and Markets Authority (ESMA) has stated that EU crypto clients must be served through a MiCA-authorised entity, putting Binance's European servicing model under scrutiny. The exchange faces questions about how it structures its operations in the region following the MiCA deadline. Binance EU may need to restructure to comply with the new regulatory framework.