Binance shuts off EU trading after missing its MiCA license deadline

Photo: Carl Gruner / Unsplash

Binance cut off new activity for EU users on July 1, after missing the deadline to secure a license under the EU's Markets in Crypto-Assets regulation (MiCA).

What happened

Binance had been pursuing a Greek MiCA license, but withdrew that application on June 24 after signals the regulator was going to reject it, reportedly over concerns about founder Changpeng Zhao's "fit and proper" status following his 2023 US guilty plea. No other EU license came through in time to replace it.

What's cut off

New orders, deposits, sign-ups and staking are suspended for EU users. Withdrawals stay open, existing users can still pull their funds out, they just can't add to or trade their positions through Binance in the meantime.

What's next

Binance says it's now pursuing a license in France instead. There's no confirmed timeline for when EU service might resume.

Why this matters if you use Cresori

Binance is one of the brokers Cresori connects to directly. If you're an EU-based Binance user, your account there is effectively frozen for anything beyond withdrawals, positions won't change unless you're closing them out, and Cresori's read-only view of that account will reflect that stillness accurately, but it can't tell you when access comes back. Check your account status directly with Binance rather than assuming a quiet account means nothing's wrong.

Sources: Coindesk, June 26, Coindesk follow-up, July 3.