Binance Stops Serving EU Customers Amid Licence Row

Crypto exchange Binance has told its EU customers that it will stop providing services to them from next week due to a lack of licence.

The change comes into effect on July 1, when all crypto companies operating in the EU must hold a licence under the bloc's Markets in Crypto-Assets Regulation (MiCA) or risk being penalised.

Binance had applied for a bloc-wide licence through Greece but was rejected last week, less than two weeks before the deadline. The exchange now plans to apply through France, where it has previously been in talks about a licence.

However, even if approved, any licence is likely to come well after the 1 July deadline and in the meantime the exchange is not allowed to serve EU customers.