Binance suspends EU services after missing MiCA license deadline
In brief
- Binance suspended services in France, Italy, Poland, and Spain after missing the July 1 MiCA license deadline
- Exchange withdrew its Greece license application and will pursue authorization in France instead
- Crypto firms must hold MiCA license from one EU member state by July 1 to operate across all 27 member states
License withdrawal and pivot to France
Binance withdrew its license application in Greece and said it would seek authorization in another EU country. The exchange intends to approach France instead, according to people familiar with the company's plans.
Emails to clients in France, Italy, Poland and Spain arrived days before the June 30 deadline. The notifications informed users the exchange was no longer able to accept new registrations and would restrict services.
Regulatory framework and timeline
Crypto firms must have a MiCA license from at least one EU member state by July 1 to provide services across all 27 member states. MiCA — the Markets in Crypto-Assets Regulation — sets uniform rules for digital asset providers operating in the bloc.
Binance stated its ambitions in Europe remain unchanged. "Our ambitions in Europe remain the same, and we are confident we will secure a MiCA licence in the coming months," the exchange said in a statement to CoinDesk.
User reassurance amid service cuts
The company emphasized that user assets remain protected. Binance told customers in the suspension notice that assets "remain safe and secure, and will remain accessible at all times."
The move marks a tactical retreat from Binance's earlier messaging. A day before announcing the service suspension, the exchange said it was "not leaving Europe" — a statement that now sits awkwardly alongside the shutdown of new account creation and service restrictions across four major EU markets.
