Binance Addresses MiCA Transition as EU Regulatory Changes Take Effect

As Markets in Crypto-Assets (MiCA) rules took effect in the European Union on July 1, Binance issued a statement reassuring affected users about asset safety and outlining available options. The exchange confirmed that customer assets remain secure and held on a one-to-one basis, with transfers and withdrawals continuing where applicable.

Binance is contacting affected users directly and continuing discussions with regulators as it navigates the MiCA transition. The exchange is pursuing a new licensing route after withdrawing its MiCA application in Greece. Account access remains limited, and available options depend on user location and account status.

MiCA establishes a single rulebook for crypto service providers across the EU, covering licensing, investor protection, and oversight. The European Securities and Markets Authority (ESMA) instructed unauthorized crypto firms to wind down operations, stop onboarding new clients, and ensure clear communication with users ahead of the deadline.

Binance emphasized its commitment to supporting users through the transition with clarity and responsibility. The company directed customers to official support channels for account-specific questions.

Source: https://news.bitcoin.com/binance-addresses-mica-transition-as-eu-regulatory-changes-take-effect/