Binance Cracks Under EU Regulatory Pressure as MiCA Deadline Passes

Binance has begun restricting trading services for users in France and other European markets after failing to secure a Markets in Crypto-Assets license before the EU's July 1 deadline. The company told customers in France that its local entity could no longer accept new clients and would stop providing crypto-asset services from July 1, 2026.

Similar notices were also sent to users in other EU markets, including Italy, Poland, and Spain, with Binance stating that users' assets would remain accessible. The move follows Binance's unsuccessful attempt to obtain a MiCA license through Greece's Hellenic Capital Market Commission, which Reuters reported was expected to be rejected.

The company's inability to secure approval in at least one jurisdiction has left it unable to legally continue offering regulated crypto services across the EU under the new framework. European regulators have warned that firms without authorization must stop onboarding users and wind down unlicensed activity in an orderly manner.