Binance, the world’s largest cryptocurrency exchange, has notified users in the European Union that it will no longer provide services to them starting in July, according to France24. The platform was unable to obtain the necessary license in time, RBC reports.
On June 24, it was reported that Binance had withdrawn its application for an EU license in Greece and announced that it intends to submit it in another EU country. To operate in the European Union, crypto companies must obtain a license in an EU country in accordance with the MiCA regulations governing crypto assets.
This law took effect in 2024, but crypto exchanges had until June 30 of this year to obtain authorization. Most of them either did not submit an application or did not receive authorization by the deadline, the French publication notes.
In an email sent to French customers on Wednesday, Binance announced that its local subsidiary “can no longer accept new customers and will no longer provide crypto-asset services in France as of July 1, 2026.” Similar messages were sent to users in other EU markets, the company clarified on Thursday.
On Friday, the Financial Times reported that Binance customers in Poland, Italy, Spain, and France had received instructions on how to withdraw their funds. The exchange stated that some users may encounter issues before July 1, but did not urge them to withdraw funds before that date, emphasizing that their assets are secure and that technical support is available.
Reuters reported that Binance’s application for a license in Greece had faced resistance. The exchange had also been in talks with regulators in Ireland and Latvia, but without success. Binance did not specify where it might submit a new application.
The exchange stated that it had cooperated constructively and in good faith with Greek regulators, but had not received a formal decision and “made a reasonable decision to move forward in this manner, to provide users with greater clarity and continue to follow a compliant, long-term path in Europe.”
Last Chance: France
The French publication The Big Whale previously linked the denial of Binance’s license directly to ECB President Christine Lagarde’s stance on stablecoins and their impact on the digital euro project. According to the publication’s sources, France is now the only country where the exchange can obtain an EU license.
FT sources also stated that the exchange will apply for a license in France. France24 reports that an investigation is underway in the country into whether Binance is being used for money laundering.
“It’s sad to see the European Union deprive its users of access to the best liquidity in the world. Liquidity is the best protection for consumer rights. I hope the situation will change in the future,” commented Binance CEO Changpeng Zhao.
