Binance French Users Report Withdrawal Delays After MiCA License Setback

Binance customers in France are reporting delays and failed attempts to move digital assets off the exchange, days after the platform lost its bid for a Markets in Crypto-Assets (MiCA) license before the July 1 deadline.

The European Union's MiCA framework requires crypto firms to hold a regulatory license to offer services across the bloc. Binance did not secure approval in time. The exchange has since suspended several products and services for European users, including certain trading and accounting functions, while promising that customer assets remain accessible.

French media outlet BFMTV reported that users have taken to social media with screenshots of unfinished withdrawal attempts and account restrictions. Some described the process as unreliable, with transfers failing or taking far longer than expected.

Binance representatives said the restrictions are temporary, tied to ongoing negotiations with regulators. The exchange told affected clients it would continue to process withdrawals and notify them directly about account solutions. A spokesperson stressed that funds are safe.

The disruption highlights a concrete consequence of the MiCA rollout: users at a major exchange face real friction moving their money, even as the company insists the assets themselves are not at risk. For now, the path to full compliance remains unclear, and the timeline for Binance to reapply or secure approval in a specific EU member state has not been disclosed.

For traders holding assets on Binance in Europe, the immediate question is whether withdrawal delays persist or widen to other jurisdictions as the regulatory transition continues.