Binance EU Exit: How to Move Your Crypto Before July 1

Binance will stop serving clients in the European Union from July 1 after failing to secure a licence under the bloc's new Markets in Crypto-Assets regulation. The world's largest crypto exchange withdrew its application for authorisation in Greece, the country through which it had hoped to passport services across the EU. Without a MiCA licence from any member state, Binance cannot keep offering its full suite of products to European users.

The deadline is firm. From July 1, all EU customer accounts will be restricted to withdrawals only. Users who do not move their crypto and fiat before then may face limited access. Binance said it informed users by email and on its website.

For European users, the immediate task is to log in and withdraw assets. Fiat balances should be moved to a bank account or a regulated exchange that holds a MiCA licence. Approved platforms include Coinbase and Kraken. Each offers services to EU clients under existing licences recognised under the new rules.

The exit also reshapes Binance's revenue. European users accounted for roughly 15% of Binance's trading volume in 2024, according to CoinMarketCap data. That volume will shift to competitors. Licensed exchanges like Coinbase, Kraken, and Bitstamp are positioned to capture the flow.

Traders are watching whether Binance can secure authorisation in another EU country before July. The company said it is exploring options but has not filed a new application. Without a licence, the EU shutdown stands.

July 1 is the deadline. Users who do not withdraw by then will lose access to their funds.