Binance, the largest crypto exchange by trading volume, started suspending services in several European Union countries on July 1, 2026. The move followed the company’s failure to obtain authorization under the Markets in Crypto-Assets (MiCA) framework. Binance withdrew its license application in Greece before the June 30, 2026 regulatory deadline that closed the bloc’s transition period.

The exchange notified affected users in France, Italy, Poland, and Spain. It said it would stop accepting new registrations in those markets and pause some services. In its statement about Greece, Binance said it had engaged “constructively and in good faith” with local authorities. The company added that no formal decision was forthcoming before the transition period ended, prompting the withdrawal.

Binance told clients their money would remain reachable throughout the change. “Your assets remain safe and secure, and will remain accessible at all times,” the company said. It framed the suspension as a pause rather than a full exit. Binance said it plans to reapply through another EU member state to pursue a compliant, long-term path in Europe.

MiCA sets a single licensing standard for crypto firms across the 27-member bloc. A license granted in one member state lets a firm passport services into the others. The June 30 deadline marked the end of the grandfathering window that let existing operators run under national rules. Most exchanges did not meet that deadline, according to the report. Binance’s decision to withdraw in Greece and shift its application elsewhere reflects the pressure of the new regime.

The exchange has faced regulatory scrutiny in multiple jurisdictions in recent years. Founder Changpeng Zhao was imprisoned in 2024 after pleading guilty to anti-money laundering violations in the United States. That history has shaped how national regulators assess the company’s applications. The choice of a new EU member state for the next filing will determine how quickly Binance can restore passported access.

For users in the affected countries, the immediate change is the loss of new registrations and certain services. Existing account holders retain access to their balances, based on the company’s statement. Binance has not published a timeline for the fresh application or named the member state it will target next. The outcome will indicate whether a firm of its size can meet MiCA’s requirements without scaling back its European footprint further.