Binance EU Services Suspended Amid Regulatory Setback

Binance, the global cryptocurrency exchange, is suspending services for European Union users next month after failing to secure a license under the bloc's Markets in Crypto-Assets regulation by the deadline.

The company had applied for a MiCA license in Greece but withdrew its application last week due to concerns over anti-money laundering controls and questions about former CEO Changpeng Zhao's suitability.

Binance plans to seek approval again through France, expecting to secure a license within the next few months. It assures EU customers that client assets remain safely protected and has not asked users to withdraw their funds by July 1.