Key facts
- Binance withdrew its MiCA license application in Greece.
- Binance will halt new user onboarding in the EU from July 1.
- Binance will restrict certain services in the EU from July 1.
- The restrictions are due to failing to secure authorization before the deadline.
- Existing users can still withdraw assets from Binance.
Binance has officially withdrawn its application for a cryptocurrency license under the Markets in Crypto-Assets (MiCA) regulation in Greece. The company announced that it will also be restricting new user onboarding and certain services within the European Union starting July 1. This move is a direct consequence of Binance's failure to obtain the necessary authorization before the regulatory deadline for operating under MiCA. Despite these restrictions, Binance has assured its existing users that they will still be able to access their accounts to withdraw assets. The withdrawal from the Greek licensing process and the broader EU onboarding halt signal significant challenges for the cryptocurrency exchange in navigating the evolving regulatory landscape across major global markets.