Binance will limit its services for European users starting July 1 after failing to obtain a MiCA license. The exchange withdrew its application in Greece following reported resistance from regulators there.
Binance withdrew its Markets in Crypto-Assets application in Greece after encountering resistance and said it must seek authorization elsewhere. Reports indicated similar friction in talks with regulators in Ireland and Latvia.
The company maintains that Greece was its only formal application. Under MiCA, a license from any EU national regulator would allow passporting across all 27 member states.
ESMA has directed unauthorized crypto-asset service providers to stop onboarding new EU clients. Existing services will be restricted to exit and withdrawal activity only.
Binance users in the EU will still be able to withdraw assets after the July 1 deadline.