Binance, the world’s largest cryptocurrency exchange by trading volume, told European Union (EU) customers that it is suspending some services because it will not have a Markets for Crypto Assets (MiCA) license in place by July 1.
Users received an email notifying them that the exchange could no longer accept new registrations and would restrict services, a spokesperson for the Abu Dhabi-based company told CoinDesk. “Your assets remain secure and will be accessible at all times,” the email said.
On Thursday, the company said it withdrew 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 approach France, the Financial Times reported on Friday, citing people familiar with the company’s plans.
Emails to customers in France, Italy, Poland and Spain arrive 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 companies must end their activities in the EU.
