Binance to halt EU services on July 1 after failing to secure MiCA licence

The world’s largest cryptocurrency exchange, Binance, announced it will suspend most of its services across the European Union starting 1 July because it has not obtained a MiCA licence from a member‑state regulator. The company’s application to the Greek Capital Market Commission was blocked, preventing it from obtaining the required EU “passport” licence. Binance said it will continue only the minimal functions needed to let users transfer their assets to other regulated platforms, affecting an estimated 40 million EU customers. While the firm does not intend to abandon Europe permanently, it plans to seek a licence in another EU country with a more favourable regulatory framework. The suspension follows earlier regulatory scrutiny in France and a US settlement, underscoring ongoing compliance challenges for the crypto industry in the region.