Binance to stop serving EU customers after failing to secure MiCA license
What's happening
Binance has told EU customers it will stop providing services from 1 July after failing to secure a licence under the EU's Markets in Crypto-Assets Regulation (MiCA). The MiCA enforcement phase begins 1 July, letting firms with CASP authorisations scale across the EU, while unlicensed platforms risk being shut out. Competitors that have secured MiCA authorisations, including Nebeus in Spain, Lightspark Payments Europe in Estonia, and Tothemoon in Cyprus, are now positioned to passport services across the European Economic Area. The absence of a MiCA licence for Binance has triggered a scramble among licensed exchanges to win over its customers with bonuses, promotions, and cash incentives.
Why it's trending
Because MiCA goes into full effect on 1 July, forcing firms to hold EU CASP licences or stop serving EU users, and Binance has not secured one.
SignalHolding at its usual pace, confirmed across 1 independent source type.
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Binance walking away from EU customers might be the best thing for smaller European exchanges that actually secured MiCA licences today, and they know it.
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Original sources8
- Crypto platform Tothemoon secures MiCA licence in Cyprus
Tothemoon, a global crypto platform, today announced that it has secured authorisation from the Cyprus Securities and Exchange Commission (CySEC) as a Crypto-Asset Service Provider (CASP) under the European Union’s Markets in Crypto-Assets Regulation (MiCA).
FinextraJul 2 - Lightspark becomes first payments company in Estonia to get MiCA licence
Today, Lightspark Payments Europe AS announced it received a crypto-asset service provider (CASP) authorization under the EU's Markets in Crypto-Assets Regulation (MiCA), together with authorization to operate as an electronic money institution (EMI), from Estonia's Financial Supervision Authority (Finantsinspektsioon).
FinextraJul 2 - Nebeus receives MiCA CASP authorisation
Nebeus has been authorised by Spain's CNMV as a Crypto-Asset Service Provider (CASP) under the EU's Markets in Crypto-Assets (MiCA) regulation, placing the Barcelona-based fintech among the first regulated firms able to passport digital asset services across the European Economic Area.
FinextraJul 1
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