Ripple Wins MiCA Preliminary Approval in Luxembourg as Binance Shifts EU Strategy

Ripple has secured preliminary approval for a Crypto Asset Service Provider (CASP) license in Luxembourg under the EU's Markets in Crypto-Assets (MiCA) regulation, according to Luxembourg's financial regulator Commission de Surveillance du Secteur Financier. The approval enables Ripple to expand regulated cryptoasset services across the European Economic Area and complement its existing EU Electronic Money Institution license, providing unified access to its cryptoasset and stablecoin payment infrastructure.

Meanwhile, Binance has withdrawn its MiCA application in Greece and is preparing to apply in another EU member state ahead of the 1 July regulatory deadline. The European Securities and Markets Authority has stated that crypto service providers without authorization by that date must begin winding down their EU operations.