Overview
- Binance withdrew its MiCA licence application filed with Greece and told customers in markets including France, Italy, Spain and Poland how to access or withdraw their holdings.
- The company says customer assets remain secure and that it will seek authorization in another EU member state, but it warned it cannot accept new EU registrations ahead of the July 1, 2026 compliance deadline.
- Licensed exchanges such as Coinbase and OKX, both saying they hold MiCA approval, are offering transfer and sign‑up bonuses of up to 8 percent to attract users who may move funds off Binance.
- The July 1 MiCA enforcement requires a national authorisation to passport crypto services across the EU, which means unlicensed firms must stop onboarding EU clients or wind down services after the deadline.
- Regulators cited Binance’s past enforcement record, complex corporate structure and compliance concerns when assessing national applications, and the withdrawal intensifies short‑term pressure on licensed venues and custody providers to absorb customer flows.