Binance temporarily suspends operations in the EU due to delay in obtaining MiCA license
The world's largest cryptocurrency exchange Binance has warned users in European Union countries about possible restrictions on its services. The reason: the company is unlikely to obtain the license required to operate under the new MiCA regulation before the deadline.
From July 1, 2026, all crypto companies operating in the EU must hold the appropriate authorization. Without it, providing services to European clients will be prohibited.
According to the Financial Times, Binance's license application through Greece was rejected. The exchange is now attempting to go through the process via France, but even if approved, the registration procedure will take several months — during which the company will be unable to legally operate in the EU market.
Users in France, Italy, Spain, and Poland have already received notifications that Binance will not obtain its license before the established deadline. At the same time, the company emphasizes that client assets remain safe and that user support is being handled on an individual basis.
According to the publication, the Greek regulator's grounds for rejection included concerns over Binance's anti-money laundering procedures and the compliance of its corporate governance with regulatory requirements.
Against this backdrop, competitors have already begun actively courting European traders. In particular, representatives of Bitpanda and OKX have stated their readiness to onboard users looking for alternative platforms.
This is not Binance's first conflict with regulators. In 2023, the company agreed to pay the United States $4.3 billion as part of a case involving violations of anti-money laundering laws and sanctions. Following that, exchange founder Changpeng Zhao stepped down as CEO, pleaded guilty, and served a four-month prison sentence.
In addition, Binance's operations remain restricted in the United Kingdom, while a separate investigation into possible legal violations is ongoing in France.
