Binance has restricted new user sign-ups, deposits and Earn products for users in Italy, Spain, France, Poland, Belgium and Sweden as the EU’s MiCA transition period ends.
The restrictions apply to affected users in named markets rather than every European account in the same way. Access can vary by country, account status and product, with users outside the named markets still able to access some services where Binance has not applied the same restrictions or where local conditions differ.
Withdrawals and transfers remain available for affected users. Binance CEO Richard Teng told users that assets remain safe and that affected customers would continue to have access to the options communicated to them after July 1, including withdrawals.
The company has also said user assets are held on a 1:1 basis. Account-specific instructions are being sent through Binance’s official channels, with users directed to customer support for questions tied to their country, balance, product access or withdrawal route.
The restrictions follow Binance’s failure to secure a Markets in Crypto-Assets license before the July 1 deadline. The exchange had pursued a Greek authorization route that would have allowed it to serve users across the bloc through MiCA passporting, but that path collapsed before the transition period ended.
Binance later withdrew its Greek MiCA bid and said it would seek authorization in another EU member state. That left the exchange without a confirmed EU-wide crypto-asset service provider license as MiCA became fully applicable.
Under Europe’s transition framework, firms that were operating under older national registrations could continue only until the deadline or until their MiCA application was approved or refused. Once that period expired, older local registrations no longer gave the same route to serve EU users across crypto-asset services.
ESMA had already told unauthorized crypto firms to stop onboarding new EU clients, stop opening new accounts, end marketing and limit existing activity to what is needed for an orderly wind-down. Existing users can still be allowed to sell, transfer, reallocate assets or close positions while firms complete the exit process.
The Binance restrictions create a sharper split between licensed and unlicensed platforms in Europe. Coinbase, OKX, Kraken, Bitpanda, Bitstamp, Crypto.com and other licensed or authorized platforms are using MiCA status to keep onboarding and serving eligible European users.
That competitive shift was already visible before the deadline. Coinbase and OKX launched MiCA deadline bonuses as Binance prepared service restrictions, while Gate Europe offered newcomer rewards for eligible users moving toward MiCA-regulated alternatives.
The practical impact for Binance users is now country-specific. In markets such as Italy, Spain, France, Poland, Belgium and Sweden, affected users face restrictions on new account creation, deposits and Earn access. In other EU countries, the platform may still appear operational for some users or products, but Binance has not secured a bloc-wide MiCA license and is handling access through country and account-level notices.
Binance remains in talks with regulators and says it is seeking another EU authorization route. As of July 1, affected users in the six named markets retain withdrawals and transfers, while new sign-ups, deposits and Earn products are restricted.
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