Binance to halt services for EU clients from July 1
Binance, the world's largest crypto exchange, will stop serving EU clients from July 1 due to its failure to secure a license under the new Markets in Crypto-Assets (MiCA) regulation.
Binance, the world's largest cryptocurrency exchange, will reportedly cease providing services to clients within the European Union starting July 1. This decision stems from the company's inability to secure the necessary operating license under the bloc's new Markets in Crypto-Assets (MiCA) regulation. The MiCA framework, designed to standardize crypto asset regulation across the EU, requires exchanges to obtain specific authorization to operate legally within member states. Binance's move affects its offerings to users in EU countries where it has not yet obtained local licenses compliant with the upcoming regulatory requirements. The company has been working to adapt its operations to various national and international regulatory landscapes.
Sources: Forbes Ukraine, Financial Times