Bank of France urges stricter EU stablecoin rules as Binance scales back services

Deputy Governor Denis Beau of the Bank of France warned that the EU's Markets in Crypto‑Assets Regulation (MiCA) only partially addresses the risks from non‑euro‑backed stablecoins. He called for tighter limits on everyday payments with such stablecoins, stricter controls on multi‑issuance, and clearer requirements for e‑money tokens, stressing the need for consistent global standards to prevent regulatory arbitrage.

At the same time, Binance announced it will restrict its operations in several EU member states—including France, Italy, Poland and Spain—after missing the July 1, 2026 MiCA deadline. The exchange says it will seek authorisation in another EU country while assuring customers that assets remain secure. The MiCA transition replaces 27 national regimes with a single EU framework, forcing unlicensed providers to wind down and leaving only about 250 firms fully authorised. This restructuring reshapes the European crypto market and highlights the growing regulatory pressure on major digital‑asset platforms.