According to CoinMeta, as cited by Bloomberg from informed sources, Binance continued to maintain business with some EU customers through methods such as "reverse recruitment" without having obtained the necessary MICA license. The informed sources stated that Binance interpreted the relevant terms as allowing for the continued acceptance of actively registering users, rather than engaging in promotional recruitment, and routed some of the EU customers' transactions to an entity in Abu Dhabi. Binance had previously withdrawn its MICA license application submitted in Greece and indicated that it would turn to another EU member state to apply for authorization. Binance stated that it is actively striving for MICA authorization and is committed to operating in compliance with EU regulations in the long term.