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Binance is reportedly still onboarding new EU users after the July 1, 2026, MiCA deadline, raising questions about regulatory enforcement.
Binance, the world's largest cryptocurrency exchange by trading volume, has reportedly continued to allow new customers from European Union countries to open and verify accounts after the July 1, 2026, deadline for the Markets in Crypto-Assets (MiCA) regulation [3]. This continued onboarding raises questions about the consistent enforcement of the EU's comprehensive crypto framework, which requires firms to obtain a national license to operate across the 27-nation bloc [2, 3].
| At a glance | |
|---|---|
| Regulatory Status | Operating in EU post-MiCA deadline [3] |
| MiCA Deadline | July 1, 2026 [3] |
| EU License Bid | Withdrew Greek application in June 2026 [3] |
| Global Users | Over 320 million registered users in 180+ countries [1] |
Under MiCA, crypto-asset service providers must secure authorization from a national regulator in one member state, which then allows them to "passport" services across the entire European Economic Area [3]. Firms without such approval were instructed to halt new client onboarding, stop marketing to EU residents, and implement orderly wind-down plans by the July 1, 2026, deadline [3]. The European Securities and Markets Authority (ESMA) emphasized that unauthorized entities should primarily facilitate client exits while protecting user interests and market integrity [3].
Binance had pursued a MiCA license through a Greek subsidiary, filing its application in January [2]. However, the exchange withdrew its application in late June 2026 amid reports that the Hellenic Capital Market Commission was prepared to reject it [3]. Regulators in Ireland, Latvia, and Greece had reportedly pushed back on Binance's approaches, citing past money laundering penalties, a complex international corporate structure, and a perceived risk-tolerant culture [2]. Binance's head of Europe and the United Kingdom, Gillian Lynch, stated the firm had approached four or five regulators but lodged only one formal application, in Greece, and could not explain its refusal [2].
Despite these regulatory challenges, Binance maintains a significant global presence, catering to over 320 million registered users in more than 180 countries [1]. The exchange offers trading for over 600 cryptocurrencies across spot, margin, and futures markets, along with features like P2P trading and Binance Earn [1]. CEO Richard Teng has reaffirmed the company's commitment to Europe and a harmonized rulebook for the sector, citing its approximately 1,500 compliance staff [2]. However, legacy permits in France and Italy are set to lapse within days, further limiting Binance's operational flexibility in the region [2].
The MiCA framework has significantly winnowed the number of firms operating in the EU, with only about 220 holding full authorization out of more than 3,000 that once operated under national rules [2]. Rivals like Coinbase and Kraken, which have secured authorization, can continue onboarding European customers without interruption [2].
The reported continued onboarding of new users by Binance in the EU after the MiCA deadline highlights the ongoing tension between regulatory frameworks and the operational realities of global crypto exchanges. The situation underscores the challenges of consistent enforcement in a fragmented regulatory landscape.
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Binance does not appear on the European Securities and Markets Authority register of authorized crypto-asset service providers as of late August 2026. While the exchange maintains it is committed to obtaining authorization, it currently lacks the necessary MiCA-compliant approval to operate across the European Economic Area.
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Independent testing conducted in mid-August 2026 revealed that Binance allowed new users from multiple European countries to register, verify their identities, and deposit cryptocurrency. This occurred after the July 1, 2026, deadline for crypto-asset service providers to obtain MiCA authorization.