Binance Faces Trading Ban in Europe: What Users Need to Know

The cryptocurrency exchange Binance is facing challenges in Europe. So far, it has not succeeded in obtaining a MiCA license ("Markets in Crypto Assets"), and the transition period for European trading will expire at the end of June 2026.

According to news agencies Reuters and Bloomberg, the approval of the license application that Binance submitted to the Greek Hellenic Capital Market Commission (HCMC) is unlikely. A final decision is expected in the coming days.

If the license is indeed not granted, the world's largest cryptocurrency exchange would have to cease its operations within the EU or at least scale them back. Currently, Binance operates based on various national approvals that were granted before the introduction of MiCA.

According to the Bloomberg report, Binance is already in discussions with regulatory authorities in EU countries where the company holds licenses. Among other things, it is being examined whether Binance can continue its operations beyond July to ensure an orderly withdrawal. Additionally, the company is in talks with other member states about the possibility of obtaining a full MiCA license there.

Ongoing Discussions with Regulatory Authorities

In response to inquiries, Binance stated that it remains committed to its European users and will "act in accordance with applicable laws in the future."

In the last 18 months, the cryptocurrency exchange has worked constructively with regulators. "To our understanding, the HCMC has completed the review of the application and classified it as compliant with MiCA requirements, and the application has also been reviewed at the ESMA level," a spokesperson said.

In a blog post, Binance remains hopeful about obtaining the license. The cryptocurrency exchange plans to provide further information before the deadline on June 30, 2026.

"Our priority is to keep disruptions for users to a minimum," the statement reads. However, Binance also warns of the consequences should the license be delayed or not granted at all. This could affect liquidity and competition in the European crypto market, as well as shift investments and jobs outside the EU.

Binance has had repeated issues with regulators in the past. For instance, French investigators have been examining money laundering allegations since 2024, which Binance denies.

In the US, the company reached a settlement in 2023 for over $4 billion due to violations of money laundering and sanctions regulations. Founder Changpeng Zhao even spent four months in prison but was later pardoned by then-President Donald Trump.

At least a temporary solution for Binance could come from the crypto service provider BitGo, which has held a license since May 2025 to act as a custodian for other assets or to exchange cryptocurrencies for other coins or fiat currencies. However, BitGo does not offer services such as trading or portfolio management.

CEO Mike Belshe wrote in a post on X: "If you are still waiting for approval or would prefer to use a licensed infrastructure instead of building one yourself, we can help you continue to operate safely and in compliance with all regulations."