Binance will limit EU onboarding and services from July 1 under MiCA rules after failing to gain authorization from a member state, while withdrawals remain available for users.
Binance has notified European Union users that access to key services will be restricted after the exchange failed to secure Markets in Crypto-Assets (MiCA) authorization from a member state before a July 1 deadline.
Those restrictions include halting the onboarding of new EU users and limiting certain services for EU-based accounts effective July 1, according to exchange notices shared by users on social media.
The notices said users will still be able to withdraw their assets after that date, stating that “all digital assets are still available for withdrawal,” in line with applicable regulatory requirements.
The move marks one of the first major transitions under the EU’s MiCA framework after Binance announced it withdrew its MiCA license application in Greece on Wednesday.
Cointelegraph approached Binance for comment on its plans but did not receive a response prior to the time of publication.
In circulating notices, Binance told users they may move assets to self-custody wallets or transfer funds to other crypto asset service providers (CASPs).
The exchange operator said the transition is intended to be an “orderly process” aimed at minimizing disruption to users, with services reduced to position management and withdrawals after the deadline.
Multiple MiCA-licensed CASPs including Revolut and OKX have been actively recruiting new users in EU member states ahead of next week's deadline.
Some Binance users have raised concerns over how specific services will be handled once EU service restrictions take effect after the MiCA transition ends.
In public replies on social media, users asked what will happen to staked crypto assets on Binance after the deadline, reflecting uncertainty around whether yield-generating positions will be affected by the upcoming service changes.
In response, a Binance representative said user balances “remain available and safe as always,” but did not provide specific details on how staking rewards or active positions will be treated under the restricted-services phase.
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