Binance barred from EU services after withdrawing MiCA license application

The world’s largest cryptocurrency exchange, Binance, withdrew its application for a MiCA license in Greece on June 24, 2026, just days before the EU deadline of July 1. As a result, the exchange can no longer legally offer new services to users in the European Union; existing EU accounts remain active for withdrawals but registrations are halted.

Binance, which serves more than 250 million users globally, said it will seek a new licence through a different EU member state and remains committed to the European market, but millions of users will need to migrate in the meantime. The move follows a broader regulatory crackdown, with only about 210 of more than 3,000 crypto firms securing full MiCA authorisation.

The regulatory setback adds to lingering scrutiny from the October 10, 2025 crypto market crash, during which Binance’s internal pricing was cited in forced liquidations that erased roughly $19 billion in value.