Binance pursues fresh MiCA license in EU

TLDR

Binance is actively working with several EU regulators to secure a new MiCA license after its initial Greek application was withdrawn and services were curtailed in parts of Europe.

1. Binances co?CEO says multiple EU states have invited the exchange to submit fresh MiCA applications, confirming ongoing licensing talks but not yet naming the jurisdictions.
2. Because Binance missed the first MiCA deadline, trading is suspended for millions of EU users and rivals like Coinbase and Kraken now have a regulatory head start under the new framework.
3. The key watchpoints are which country ultimately licenses Binance, how fast approval arrives, and whether MiCAs enforcement or possible MiCA 2.0 changes tighten rules further.

Deep Dive

1. What Binance Is Doing Now

After withdrawing its original MiCA application in Greece on June 24, 2026, Binance lost its path to an EU?wide license based on that filing and stopped trading in countries including France, Italy, Poland, and Spain from July 1, 2026.Binance executives now say several EU member states have invited a fresh application.

Co?CEO Richard Teng has confirmed close talks with regulators and that Binance is still working very closely with EU regulators, while declining to name the specific countries.Cointelegraph reports that regulators have invited Binance to seek new licenses after the Greek setback.

Binance is framing this as a change of venue rather than an exit from the EU, and continues to publicly support MiCAs goal of a single, harmonized rulebook for crypto services.A CoinDesk op?ed by Binance emphasizes its commitment to obtaining MiCA authorization.

2. Impact On EU Users And Competition

MiCA requires exchanges to serve EU clients through a licensed Crypto?Asset Service Provider (CASP). Because Binance did not secure authorization in time, around 2 million French users and others across the bloc can only withdraw but cannot trade spot or margin on the platform.Finance Yahoo details the halt in France and other EU markets.

On?chain and internal data show significant outflows. Binance saw roughly $1.23 billion in net withdrawals during the week of June 29, with about 70 percent of affected EU funds moving to self?custody and only 30 percent to other MiCA?licensed exchanges, according to Teng.This shift is discussed in detail in a regulatory analysis of the MiCA rollout.

Licensed competitors such as Kraken, Coinbase, OKX, and regional players are using their MiCA approvals to attract displaced Binance users, backed by EU passporting rights that allow a single license to cover all member states.Kraken currently leads MiCA?regulated exchanges on liquidity and market coverage.

3. What To Watch Next

The first question is which national regulator ultimately grants Binance a CASP license, since MiCA operates through member state authorizations that then passport across the EU. Markets will be watching for any announcement of a chosen jurisdiction and timeline.

Second, MiCA itself is still evolving. European authorities are already reviewing custody rules and have begun work on a potential MiCA 2.0 that targets stablecoins and tokenized assets.A CoinsKid community report highlights EU plans for stricter oversight in a second phase of MiCA.

Finally, regulators and exchanges are debating whether MiCAs strict cutoffs have unintentionally driven users toward self?custody rather than supervised platforms, which could influence how future enforcement and amendments are designed.Teng has warned publicly that fragmented implementation risks pushing users and capital out of Europe.

Conclusion

Binances push for a fresh MiCA license is an attempt to reenter Europes regulated market after missing the initial deadline and losing trading access in key EU countries. MiCA has shifted competition from pure fee and product wars toward regulatory access and passporting, giving licensed rivals an advantage while Binance sits in a holding pattern. How quickly Binance secures authorization, and how MiCAs next phase balances user protection with market depth, will shape the EU exchange landscape and where European crypto liquidity concentrates over the coming years.