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Binance is preparing to limit services for some European Union users after withdrawing its MiCA license application in Greece days before the bloc’s new crypto authorization deadline.
The exchange says user assets remain safe and accessible, but some accounts may be affected from July 1 depending on country, account status and available services.
Greek Withdrawal Leaves June 30 Gap
Binance said it withdrew its application with Greece’s Hellenic Capital Market Commission after reviewing the status and timing of the process. The company said it will seek authorization in another EU member state. It has not named that jurisdiction, but said it will make a public announcement when ready.
The decision leaves Binance without a MiCA license before the June 30 authorization deadline. Under the EU framework, one authorization can be used to serve clients across the 27-country bloc.
Binance Seeks Another EU Route
Binance said Europe remains part of its long-term plan and that it expects to secure authorization in the coming months. That timing still leaves Binance without authorization as MiCA restrictions begin from July 1.
The exchange can return to normal EU operations if it gains approval in another member state and uses MiCA’s passporting framework.
EU Users Face Country-Level Limits
Binance said some users may be affected based on where they live and the status of their account. The exchange said it will contact affected users directly with next steps and available options.
It also warned users to watch for scams and said it will not ask for passwords, two-factor authentication codes or private keys. The immediate limits are expected to focus on services that require MiCA authorization.
Onboarding and Trading May be Restricted
Existing users may still be able to access assets, but Binance will need to follow EU wind-down rules where it cannot continue regulated activity.
That means onboarding, marketing, new account activity and some trading services could be restricted unless Binance secures a valid EU license. Binance said user funds remain safe and that it is working to limit disruption.
ESMA Requires Orderly Wind-Downs
ESMA has told crypto-asset service providers that the MiCA transition period expires at the end of June. From July 1, firms providing crypto-asset services to EU clients without a MiCA license face restrictions and must stop offering unauthorized services.
The regulator said unlicensed firms must have wind-down plans ready and should protect clients during offboarding.
That can include transfers to an authorized provider or to a self-hosted wallet. ESMA also told users to check whether their provider is listed in the MiCA register before investing or transferring funds.
MiCA Passporting Tests Binance Access
The licensing setback makes Binance one of the highest-profile tests of MiCA’s new passporting system. The exchange has to manage user access while keeping withdrawals and asset access open.
The immediate test is Binance’s direct user guidance before July 1, followed by any new MiCA filing in another EU jurisdiction.
