- Binance will stop providing services to EU users from July 1, 2026 after failing to obtain a MiCA licence.
- The exchange withdrew its Greek licence application and plans to seek authorization in another EU member state.
- Existing customers have been instructed on asset withdrawals while Binance says user funds remain safe.
Binance to Halt EU Services Under MiCA Rules
Binance will suspend services for customers across the European Union from July 1 after failing to secure a licence under the EU’s Markets in Crypto-Assets (MiCA) regulation before the compliance deadline.
The move follows the end of the MiCA transitional period, after which crypto firms must hold authorization from an EU regulator to legally offer services across the bloc. Binance informed affected users in countries including Poland, Italy, Spain and France that it would not receive a MiCA licence before June 30 and outlined procedures for withdrawing assets, according to Financial Times.
The exchange stated that customer assets remain secure and accessible, adding that it is committed to minimizing disruption during the transition.
Greek Licence Bid Withdrawn as Binance Pursues New Approval
Binance had applied for a MiCA licence through Greece’s Hellenic Capital Market Commission earlier this year to obtain passporting rights across all 27 EU member states. However, the company withdrew its application after it became clear approval would not be granted before the regulatory deadline.
The exchange has confirmed it will instead seek authorization in another EU member state, although it has not publicly identified the jurisdiction. Binance said Europe remains a strategic market and reaffirmed its commitment to operating under the MiCA framework once approval is obtained.
The development follows earlier reports that ECB President Christine Lagarde opposed Binance’s EU expansion, while France emerged as the exchange’s remaining option for securing a MiCA licence after its Greek application was withdrawn.
Binance’s Greek application faced regulatory concerns related to its compliance history and corporate structure. The company has maintained that it worked with regulators throughout the licensing process and intends to continue pursuing authorization.
To our European users: we understand regulatory uncertainty can be frustrating.
We remain committed to securing a MiCA licence in the coming months, while providing clarity, minimising disruption, and keeping users informed directly.
Your funds remain safe and secure. For… https://t.co/gIZUZ7KPhi
— Richard Teng (@_RichardTeng) June 24, 2026
Binance said Europe remains a strategic market. In a June 24 post on X, Co-CEO Richard Teng said:
“We remain committed to securing a MiCA licence in the coming months. Your funds remain safe and secure.”
MiCA Deadline Reshapes Europe’s Crypto Market
MiCA creates a single licensing framework allowing approved crypto-asset service providers to operate across the European Union with one authorization. The final compliance deadline of July 1, 2026 marks a major milestone in the EU’s effort to establish unified oversight of the crypto industry.
Recently, Coinbase officially opened its Luxembourg office after securing a MiCA licence, establishing the country as its European headquarters. The move highlights how major crypto exchanges are positioning themselves to operate under the EU’s new regulatory framework.
The European Securities and Markets Authority has instructed firms without MiCA licences to wind down EU operations in an orderly manner. Binance’s temporary suspension highlights the immediate impact of the new regime while the exchange continues its efforts to regain access to the European market through a future licence application.
