Binance, the world’s largest crypto exchange by trading volume, told customers in the European Union (EU) that it is suspending some services because it will not have a Markets in Crypto-Assets (MiCA) license in place by July 1.
Users were emailed to inform them that the exchange was no longer able to accept new registrations and would limit services, a spokesperson for the Abu Dhabi-based company told CoinDesk. “Your assets remain secure and will remain accessible at all times,” the email said.
On Thursday, the company said it was withdrawing its license application in Greece and would seek permission in another EU country.
“Our ambitions in Europe remain the same and we are confident that we will secure a MiCA license in the coming months,” Binance said in a statement to CoinDesk.
The exchange intends to turn to France instead, the Financial Times reported on Friday, citing people familiar with the company’s plans.
Emails to customers in France, Italy, Poland and Spain come days before a June 30 deadline. Crypto firms must obtain a MiCA license from at least one EU member state by July 1 to provide services across all 27 member states. Companies without a license must wind down their EU activities.
