Binance to Halt Services for EU Clients Next Week After Failing to Secure MiCA Licence

Binance will stop providing services to EU clients from next week after failing to secure a licence under the EU's Markets in Crypto-Assets (MiCA) framework, according to the Financial Times.

The move comes ahead of the July 1 compliance deadline, when crypto firms must hold MiCA authorization to continue operating across the bloc.

The exchange's application for a pan-EU licence through Greece was recently rejected, prompting Binance to pursue regulatory approval in France instead.

As part of the transition, users in Poland, Italy, Spain, and France have received withdrawal instructions. Binance said some users could be affected before the July 1 deadline, but clarified that customers are not required to withdraw their assets by then. The exchange added that all user funds remain safe and secure.

Source: Financial Times