Binance will halt crypto asset services in European Union markets from July 1 after notifying customers that it could not meet the bloc’s Markets in Crypto-Assets (MiCA) licensing requirements before the regulatory deadline.
Key Takeaways:
Binance notified users in affected EU markets that crypto services will stop from July 1.The exchange told customers their assets will remain safe and accessible.The company withdrew its Greek MiCA application after concluding the approval process would not finish before the EU deadline.Binance had applied for MiCA authorization in Greece before withdrawing the application. The company said it withdrew its Greek filing “after careful consideration of the status and the timeline of the process in Greece, with our users’ interests at the center.”
The exchange said it had engaged “constructively and in good faith” with Greek regulators during the review. With no formal decision expected before the transition period closed, Binance said it will seek authorization through another European Union member state while continuing its long-term compliance efforts in Europe.
Binance stated:
“This is not specific to France, similar communications have been sent to affected users in other EU markets.”
Separately, Binance assured customers that service changes would not affect custody of their funds, writing, “Your assets remain safe and secure, and will remain accessible at all times.”
