Binance will shut off its services for European Union customers from next week, after withdrawing its bid for a licence under the bloc’s crypto rules.

The exchange emailed users in Poland, Italy, Spain, and France this week.

What Binance Told EU Customers

According to Euro News, Binance emailed its French clients. The message said its French unit would stop onboarding new users immediately and would end all crypto asset services in the country from July 1, 2026.

The company confirmed that comparable notices had been sent to affected users in other EU markets.

The notices stated that Binance will not hold a Markets in Crypto-Assets (MiCA) licence by June 30, 2026. The exchange assured that customer funds remain safe.  

The MiCA Deadline Behind the Decision

MiCA entered into force in June 2023. Its full licensing regime began in December 2024, opening a window for firms to secure a national licence.

That window closes July 1, 2026, the hard enforcement date across the European Economic Area. After it, operating without a MiCA licence puts a firm in breach of EU law.

Binance applied to the Hellenic Capital Market Commission in Greece but received no formal decision. It withdrew the bid this week. However, Binance said it would instead pursue a licence through another EU member state.

“Europe is an important region for Binance, and our ambition to operate under a clear, fair, and harmonized MiCA framework remains unchanged. We continue to support MiCA’s goal of creating a consistent regulatory framework for crypto assets across the EU, and we are confident we will secure authorization in another EU Member State in the coming months,” the exchange stated.

Two people familiar with the process told Reuters that Binance also approached regulators in Ireland and Latvia but faced resistance. The coming time will reveal which member state Binance targets next.

Source: BeInCrypto