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Binance Set To Lose Permission To Operate In EU

3 months ago
Binance is expected to lose permission to serve EU customers in July after Greek regulators reportedly decided to reject its MiCA license application. Reuters reports: Under new EU rules, called MiCA, crypto firms have until the end of June to obtain a licence to allow them to keep servicing clients across the bloc. Binance's application, made to Greece's market regulator, is set to be turned down, the people said. European regulators have been attempting to rein in crypto exchanges, which allow people to trade cryptocurrencies such as bitcoin around the globe. Under MiCA, crypto companies have to apply for licenses from regulators in individual EU countries, which they can use as a "passport" to operate throughout the 27-nation bloc. At stake is oversight of the multi-trillion-dollar crypto industry, which regulators have long warned could destabilize markets and harm investors if not properly supervised. The Greek rejection would mean Binance will not be given the green light to operate in the EU, leaving the fate of Binance's customers based in the bloc uncertain. Binance posted on X after the Reuters report was published that it intends to "support an orderly process and minimise disruption to our users", without giving further details. A spokesperson for Binance, which has 300 million customers worldwide, earlier said it has been pursuing a MiCA licenze and had worked with regulators for 18 months. Binance believes it has met the requirements to be MiCA authorized, the spokesperson said. It understood that Greece's Hellenic Capital Market Commission had completed its review of the application and it was considered compliant. "HCMC has given no formal indication of the contrary," the spokesperson told Reuters.

Read more of this story at Slashdot.

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France To Stop Certifying Products Without Quantum-Safe Encryption

3 months ago
Starting in 2027, France's cybersecurity agency ANSSI will stop certifying security products that lack quantum-resistant encryption, effectively forcing government agencies and critical infrastructure operators to phase out older cryptographic systems. Reuters reports: Samih Souissi, ANSSI's chief of staff, said at the France Quantum conference that the agency would halt such certifications from 2027, and that businesses should be buying only quantum-safe products by 2030. ANSSI approval is required for use in French government agencies and critical infrastructure, making the policy a de facto phase-out of older encryption. "It's not only a technical issue," Souissi said. "It's a matter of governance, industrial planning, regulation, and sovereignty." The move reflects concern that attackers may store encrypted data now and unlock it later when quantum computers become strong enough to crack today's protections, a risk known as "harvest now, decrypt later."

Read more of this story at Slashdot.

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