Binance has withdrawn its MiCA application with Greek regulator HCMC, warning services may be suspended across several European markets. Funds remain safe, the company says, but affected users will be contacted. No new country has been named.
MiCA — Markets in Crypto-Assets — is the EU's regulatory framework for crypto assets, requiring firms to obtain a licence as a CASP (Crypto-Asset Service Provider) from a national financial regulator. Approval in one EU country grants access to the entire EU/EEA market through passporting. Without a valid licence, Binance loses the legal basis to offer services to customers across the EU/EEA. The company withdrew its application with Greek regulator HCMC without a formal decision being issued, and has yet to name a new applicant country. In a statement, the company says customer funds remain safe and will remain accessible at all times.
Europe is home to millions of crypto investors using Binance's services. In the Nordic and Baltic regions, Binance has for many years been the largest crypto exchange, though it has faced growing competition from local and national providers. What happens to Binance under MiCA could have consequences for customers across the entire European Economic Area, including the Nordic and Baltic countries. We therefore reproduce the key points of Binance's announcement to its European users below.
Binance has decided to withdraw its MiCA licence application with the Hellenic Capital Market Commission (HCMC) in Greece and will seek authorisation in another EU member state. When the company is ready to announce which country that will be, it will do so publicly. The decision was taken after careful consideration of the status and timeline of the process in Greece, with users' interests at the centre. Over many months, Binance worked constructively and in good faith with the HCMC. With no formal decision as MiCA's transition period draws to a close, the company chose to move forward in a way that gives customers more certainty and allows it to continue on a compliant, long-term path in Europe.
According to Binance, the most important message is this: customer funds are safe and secure. Binance is in the process of contacting all EU users. Those communications will explain whether any action is required on the customer's part, what options may be available, relevant timelines, and where customers can get support. Some users may be affected depending on their country and account status. Binance says its priority is to minimise disruption, provide clarity, and ensure users are treated fairly throughout the process.
Uncertainty can create confusion and concern, and trust is built when customers receive clear information in time to make informed decisions. According to Binance, when regulatory timelines change or licensing processes create uncertainty, the right approach is to communicate early, be transparent about what is known, and provide practical guidance as soon as possible.
Despite withdrawing its application in Greece, Binance stresses that its commitment to Europe is unchanged. Europe is an important region for the company, and its ambition to operate under a clear, fair, and harmonised MiCA framework remains in place. Binance says it is confident of securing authorisation in another EU member state in the coming months, and supports MiCA's goal of creating a consistent regulatory framework for crypto assets across the EU. The long-term vision is to serve customers responsibly and compliantly, contribute to a trusted digital asset ecosystem, and continue building for the future in the region.
Binance encourages customers to monitor their email and in-app notifications for account-specific updates, review any communications from the company carefully, and contact customer support with questions about available options. If action is required for an account, Binance will reach out directly with clear next steps. The company also warns customers to be vigilant against scams: Binance will never contact customers by phone. All communications are sent through official Binance channels or by email, and the company will never ask for passwords, two-factor authentication codes, or private keys.
Binance says it is grateful for the trust its European users place in the company, and that its priority is to handle changes responsibly and keep customers informed throughout the process. Customers can contact the customer support team at binance.com/support.
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Sources: Binance
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