Binance to Suspend EU Services Next Month After Missing MiCA License Deadline

Binance, the global cryptocurrency exchange, will suspend services for European Union users starting next month after failing to secure a license under the bloc’s Markets in Crypto-Assets regulation by the deadline.

The exchange told EU customers in an email that it will not obtain a MiCA license by June 30, 2026, and outlined the service suspension and asset-management procedures, the Financial Times reported on June 26.

MiCA requires all virtual asset service providers operating in the EU to obtain a single license from July 1. Firms without a license cannot offer services in the bloc.

Binance had applied in Greece for a MiCA license that would have allowed it to operate across the EU, but the application was not approved last week, the FT reported. The exchange then withdrew the application and plans to seek approval again through France, according to the report.

Binance said in a statement that it had not received a formal decision on its Greek application, but withdrew it as a precaution and decided to pursue authorization in another EU member state. The company said it expects to secure a MiCA license within the next few months.

It added that some users could be affected before July 1 and were being notified directly. Binance also said it had not asked customers to withdraw their assets by July 1 and that client assets remain safely protected.

Greek regulators declined to approve Binance’s application because of concerns over its anti-money laundering controls and questions about the suitability of former Chief Executive Officer Changpeng Zhao, the FT reported, citing multiple people familiar with the matter.

Binance pleaded guilty in the US in 2023 to violating anti-money laundering laws and international sanctions, and paid more than $4.3 billion in penalties. Zhao stepped down at the time, and the company is now run under a co-CEO structure led by Richard Teng.