On June 24, the exchange withdrew its license application in Greece and announced plans to apply in another EU country. However, with MiCA rules fully taking effect on July 1, time has run out.
In emails sent to users, Binance's European entity stated that it can no longer accept new clients and will cease providing crypto-asset services from July 1, 2026.
Users in Poland, Italy, Spain, and France have already received instructions on how to withdraw their funds.
Binance founder Changpeng Zhao criticized the decision, saying it's "sad to see the European Union deprive its users of access to the best liquidity in the world."
For now, this looks like a major setback for Binance in Europe and another reminder that regulation is becoming one of the biggest challenges for global crypto exchanges.
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