By PAUL O’DONOGHUE, Senior Correspondent
BINANCE will suspend many of its key services across several EU countries from 1 July after failing to secure the licence needed to operate under the bloc’s new crypto rules.
Binance emailed customers in France, Italy, Poland and Spain to say it could no longer accept new registrations. It also warned that some services would be restricted from 1 July because it would not have a MiCA licence in place.
Customer emails reviewed by multiple media outlets indicate Binance will stop accepting new spot orders, deposits and account registrations from affected EU users.
The exchange sought to reassure customers. It said: “Your assets remain safe and secure, and will remain accessible at all times.”
The company is the world’s largest cryptocurrency exchange by trading volume. Its bid to secure a licence in Greece unravelled earlier this month. Binance now plans to seek authorisation in another EU member state.
Binance said: “Our ambitions in Europe remain the same, and we are confident we will secure a MiCA licence in the coming months.”
MiCA came into force in 2024. It introduced a single regulatory framework for crypto-assets across the EU. The rules include anti-money laundering requirements and investor protection measures. Crypto firms needed authorisation from at least one EU member state by 1 July 2026 to continue offering services across the bloc.
Founded in 2017, Binance grew into the world’s largest crypto exchange. However, the company has faced growing regulatory scrutiny.
French authorities continue to investigate alleged money laundering offences linked to the firm. Meanwhile, former chief executive Changpeng Zhao pleaded guilty to violating US AML laws in 2023. He served a four-month prison sentence in 2024.
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