Binance has begun winding down services for European Union users ahead of the bloc’s July 1 Markets in Crypto-Assets (MiCA) transition deadline, after withdrawing its licence application in G
Binance has begun winding down services for European Union users ahead of the bloc’s July 1 Markets in Crypto-Assets (MiCA) transition deadline, after withdrawing its licence application in Greece. The world’s largest exchange has started advising affected EU customers to move their funds to self-custodial wallets or rival platforms, marking one of the first major operational shifts triggered by Europe’s new crypto framework.
Binance withdrew its MiCA licence application from Greece’s securities regulator on Wednesday, and the move coincided with a sharp pickup in withdrawals. According to DefiLlama data reviewed by Cointelegraph, the exchange recorded more than $400 million in net outflows during the week beginning June 22, leading all tracked exchanges.
