Binance is preparing to shut off many European Union customers next week after failing to secure a MiCA license before the July deadline. The exchange has begun emailing users in several EU countries, warning that key services will stop as the bloc’s new crypto rulebook takes full effect.
MiCA Deadline Forces Binance Services to Halt
From July 1, any crypto firm serving EU clients must hold a Markets in Crypto‑Assets (MiCA) license or stop operating, according to guidance from EU regulators. The European Securities and Markets Authority (ESMA) has said that pending applications do not protect firms that miss the transition deadline.
Binance had sought a bloc‑wide license via Greece, which would have allowed it to “passport” services across the 27‑country union. However, its application was withdrawn and is widely reported as having no chance of approval before the cut‑off date.
As a result, the exchange told French users that its local entity “will no longer provide crypto asset services in France” as of July 1 and said similar notices had been sent to clients in other EU states. Euronews reports that customers in Poland, Italy, and Spain have also received instructions on how to wind down positions and withdraw.
Binance’s Plans and Customer Guidance
Binance says it now plans to pursue a MiCA license through France, where its unit already holds a Digital Asset Service Provider registration from the markets regulator AMF. The company has stressed in statements that it “remains committed” to operating under MiCA and is engaging with French authorities about a fresh application.
In its customer emails, Binance said some users may see service limitations before July 1, particularly for trading and access to new products. However, the firm has also told clients that it is not asking them to withdraw all funds by that date and that assets “remain safe and secure and will remain accessible at all times.”
MiCA’s end of the transition period is reshaping the broader market, not just Binance. Industry estimates suggest a majority of EU‑registered crypto firms still lack full authorization and could also face forced exits or service cuts if they do not receive licenses in time
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