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25/06/2026 – 20:43 GMT+2
Binance has announced it will suspend cryptocurrency services in multiple European Union countries from next week, following its inability to secure the necessary regulatory approval required to continue operating in the bloc.
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The company confirmed it had applied for a licence in Greece under the EU’s Markets in Crypto-Assets (MiCA) regulation but withdrew its application, stating it intends to reapply through another EU member state.
In an email to French clients on Wednesday, Binance indicated its French entity “is no longer able to accept new clients and will cease providing crypto asset services in France from July 1, 2026.” The company later clarified this action extends to other affected EU markets. “Similar notifications have been sent to impacted users across other EU jurisdictions,” Binance stated.
Clients were assured their funds remain secure: “Your assets are safeguarded and will remain accessible at all times,” the firm emphasized.
A regulatory deadline most exchanges missed
MiCA, effective since 2024, established a unified EU framework for crypto asset trading, including investor safeguards and anti-money laundering requirements. Exchanges were required to obtain national regulator approval by 30 June 2026 – a deadline most failed to meet.
Binance explained it withdrew its Greek application “following a thorough assessment of Greece’s regulatory process timeline, prioritizing user clarity.” The firm claimed it engaged “constructively with Greek authorities in good faith,” but with no final decision before the deadline, it chose to pursue licensing alternatives. “We made this prudent decision to provide users with clarity while continuing our compliant, long-term strategy in Europe,” the company added.
Greece’s Hellenic Capital Market Commission did not respond to requests for comment on Thursday evening.
A turbulent period for the crypto giant
Established in 2017, Binance quickly became a global leader in crypto trading, catapulting co-founder and former CEO Changpeng Zhao to billionaire status. Originally based in China, the company relocated internationally after Beijing’s strict crypto sector crackdown.
Since then, Binance has faced intense regulatory and legal challenges. During the 2022 market crash, global regulatory scrutiny intensified. The exchange has been accused in multiple countries of enabling money laundering by criminal entities, with an ongoing investigation in France.
In late 2023, Zhao admitted guilt to violating US anti-money laundering regulations and served a four-month prison sentence in 2024.
