Binance Faces EU Setback, Venezuelan Stablecoin Demand Spikes

Binance is facing a setback in its bid to operate in the European Union after its MiCA license application in Greece faces rejection.

The move could harm Europe's competitiveness in the crypto market, according to Binance. The company believes that restricting access to its services may drive users towards unregulated platforms.

Meanwhile, data from Binance P2P shows that USDT demand in Venezuela continues to rise as the bolivar weakens and access to U.S. dollars through banks remains limited.