Binance limits EU services under MiCA

• Binance will restrict key services for European Union users from 1 July after failing to secure a Markets in Crypto-Assets (MiCA) licence from an EU member state.
• The exchange will stop onboarding new EU users and reduce services, although customers will still be able to withdraw their digital assets.
• The transition marks a major step in the EU's MiCA rollout as licensed crypto providers compete for customers across the region.

Binance will begin restricting services for European Union users from 1 July after failing to obtain authorisation under the Markets in Crypto-Assets (MiCA) framework before the regulatory deadline.

The exchange said it will stop onboarding new EU users and limit existing accounts to selected functions, while confirming that customers will continue to have access to digital asset withdrawals.

"All digital assets are still available for withdrawal," Binance said in notices sent to affected users, adding that the transition is intended to minimise disruption.

Binance also advised customers that they may transfer assets to self-custody wallets or move funds to other authorised crypto asset service providers operating under the MiCA framework.

The changes follow Binance's decision to withdraw its MiCA licence application in Greece, while competitors including Revolut and OKX continue expanding their regulated services across the European Union.

Some users have sought clarification on how staking services and active trading positions will operate after the restrictions begin, although Binance has so far only confirmed that customer balances remain safe and available.

The rollout represents one of the first major operational changes under the European Union's MiCA regime as cryptocurrency exchanges adapt their services to meet the bloc's new regulatory framework.