Binance Halts EU Spot Trading After MiCA License Failure

Binance stopped spot and margin trading for European users on July 1 after failing to secure authorization under the EU's Markets in Crypto-Assets regulation before the June 30 deadline. Customers can still withdraw crypto and euro balances. The exchange also began a staged shutdown of several other products, including trading bots and staking services.

The MiCA transition period ended across the European Union on June 30. Binance did not obtain a license in time. Reuters reported that Greece could reject the exchange's application. Binance withdrew that application before regulators issued a final decision. That move cost the company passporting rights across the EU, meaning it can no longer offer regulated services in member states without a local license.

French clients received emails explaining the immediate changes. Binance said it "is no longer in a position to accept new clients." Similar notices went to customers in Italy, Spain, Poland, and other affected markets. Open spot orders closed. The exchange disabled new spot trades and trading bots. Margin products were also restricted. Existing customers can only reduce positions and withdraw available assets.

Binance confirmed funds remain accessible. "Your assets remain safe and secure and will remain accessible at all times," the exchange said. Crypto and euro withdrawals continue without interruption.