Just a day after withdrawing its MiCA license application in Greece and stating it is “not leaving Europe,” Binance informed users across the European Union that it will scale back certain services.
The world’s largest crypto exchange by trading volume said it will not have a Markets in Crypto-Assets (MiCA) license secured by the July 1 deadline, prompting the restrictions.
A company spokesperson said users were notified via email that Binance will stop onboarding new customers and limit some offerings. “Your assets remain safe and secure, and will remain accessible at all times,” the message noted.
On Thursday, Binance confirmed it had pulled its application in Greece and intends to seek approval in another EU jurisdiction.
“Our ambitions in Europe remain unchanged, and we are confident we will obtain a MiCA license in the coming months,” the company said.
The exchange is now expected to pursue authorization in France, according to a Financial Times report citing people familiar with the matter.
The notifications were sent to users in France, Italy, Poland, and Spain just ahead of the June 30 deadline. Under MiCA rules, crypto firms must obtain a license from at least one EU member state by July 1 to operate across all 27 countries or begin winding down their regional services.
