Binance, the world’s largest cryptocurrency exchange by trading volume, told its European Union (EU) customers that it is suspending some services because it will not have a Crypto Asset Marketplaces (MiCA) license by July 1.
Users received an email informing them that the exchange was no longer able to accept new registrations and would restrict services, a spokesperson for the Abu Dhabi-based company told CoinDesk. “Your assets remain safe and secure and will remain accessible at all times,” the email said.
On Thursday, the company announced that it was withdrawing its license application in Greece and would seek authorization in another EU country.
“Our ambitions in Europe remain the same and we are confident that we will obtain a MiCA license in the coming months,” Binance said in a statement to CoinDesk.
The exchange intends to go to France instead, the Financial Times reported Friday, citing people familiar with the company’s plans.
Emails to customers in France, Italy, Poland and Spain arrive a few days before the June 30 deadline. Crypto companies must have a MiCA license from at least one EU member state by July 1 to provide services in all 27 member states. Unlicensed businesses must stop operating in the EU.
