Binance May Lose EU License: What Does This Mean for Belgian Crypto Investors?

In short

As of 1 July 2026, Binance does not hold a MiCA licence and can therefore no longer operate as a licensed crypto asset service provider within the European Union. The exchange withdrew its MiCA licence application in Greece and did not obtain a licence in another Member State before the deadline. Binance has stated that it intends to submit a new application in another EU jurisdiction, but at present it does not hold a MiCA licence. For European users, this means that services may be restricted or gradually phased out, depending on their country of residence and account status. Investors should therefore closely monitor Binance's official communications and, where appropriate, consider transferring their assets to a MiCA licensed provider in a timely manner.

What's going on?

According to a Reuters report from June 16, 2026, based on two sources familiar with the matter, the Greek market regulator (the Hellenic Capital Market Commission, abbreviated HCMC) is about to reject Binance's MiCA license application. Binance submitted this application in January 2026 through a Greek subsidiary.

Binance has since announced that it has withdrawn its MiCA licence application with the Hellenic Capital Market Commission (HCMC). As a result, Binance did not obtain a Greek MiCA licence before the 1 July 2026 deadline.

Reuters had previously reported on 16 June 2026 that the HCMC was preparing to reject Binance's application. At the time, Binance disputed that report, stating that its application had been considered compliant and was progressing towards approval. A few days later, however, Binance withdrew the application, citing the absence of a formal decision before the end of the transitional period.

Binance has indicated that it intends to apply for a MiCA licence in another EU Member State. As of 1 July 2026, however, it does not hold a MiCA licence. For European users, this means that services may be restricted or gradually phased out, depending on their country of residence and account status.

This development follows earlier news regarding restrictions on USDT within the European Union, which we discussed in our previous article on MiCA and crypto asset service providers (CASPs). The broader trend is clear: the EU is taking an increasingly strict approach towards crypto service providers and crypto assets that do not comply with the MiCA framework, regardless of the size or market position of the businesses involved.

Quick refresher: what is MiCA again?

For a more detailed discussion, we refer to our article on MiCA and CASPs. In short: MiCA (Markets in Crypto-Assets) is the European regulation that determines the conditions under which crypto-asset service providers (CASPs), such as Binance, may operate within the EU. A license in one member state grants access to the entire internal market via the European passport. The transition period for providers already active expires on July 1, 2026. Anyone without a license by then is legally no longer allowed to serve European customers.

What does this mean concretely for Belgian Binance users?

Based on how similar situations are handled elsewhere and the guidelines of the European regulator ESMA, the following scenario emerges:

• No new deposits. Platforms without a license must stop accepting new deposits from EU customers.

• Mandatory "orderly wind-down". ESMA expects non-licensed providers to implement an orderly wind-down plan, under which customers are informed in advance so they can move their holdings.

• Holdings are not "confiscated". Your crypto assets remain in principle your property. The problem is not loss of ownership, but loss of access to the service itself: for example, you would no longer be able to trade, and might only be able to withdraw or transfer holdings.

• Considerable uncertainty remains. It is currently not established how much time users will be given to move their holdings, nor how this would work in practice for Binance's 300 million customers worldwide. Some countries, such as France, take a notably strict approach and threaten non-licensed providers with blacklists, website blocking, and even criminal prosecution.

The key message is this: Belgian Binance users do not lose their crypto, but they may lose normal access to the platform. This could mean that trading is suspended and that only withdrawals or transfers remain possible, potentially within a limited time window.

The banking problem: even with a "successful" withdrawal

As we already noted in our article on MiCA and CASPs, there is a second, less visible problem.

Even if your Binance account is not blocked and you are able to convert your crypto assets to euros without issue, this does not automatically mean your Belgian bank will accept that transfer without problems either. Belgian banks attach considerable importance in practice to whether the origin of the funds comes from a MiCA-licensed provider. Transactions from platforms that do not (or no longer) hold a valid license can therefore more readily lead to:

• additional questions about the origin of the funds;

• delayed processing of the transfer;

• in the worst case, a refusal by the bank to accept the deposit.

In other words: even if your money successfully leaves your Binance account, this does not guarantee that it will reach your Belgian bank account without a hitch. This risk increases the longer Binance were to remain active without a valid EU license.

What do we recommend to Belgian investors?

1. Closely follow Binance's official communications, as well as reporting from the Greek regulator (HCMC) and the European Securities and Markets Authority (ESMA). Binance itself announced an update before June 30, 2026. We are also closely monitoring this situation.

2. Regularly check the official ESMA register of licensed CASPs, which is updated weekly, to verify whether Binance (or the specific legal entity with which you have an agreement) holds a valid license or not.

3. Do not wait until it is too late. Now that Binance has withdrawn its licence application, it is advisable to take timely action. This may include transferring assets to a MiCA licensed exchange or to a self-custody wallet before any wind-down period begins.

4. Document your transactions carefully. Any switch to another platform or conversion to euros remains tax-relevant. Keep transaction records for your tax return.

5. Be prepared for additional questions from your bank regarding transfers coming directly from Binance, especially if this occurs after the transition period has already expired.

Conclusion

The uncertainty has now largely been removed. Binance has withdrawn its MiCA licence application in Greece and, as of 1 July 2026, does not hold a MiCA licence within the European Union.

For Belgian investors holding assets on Binance, the message is clear: closely monitor Binance's official communications and consider in good time whether transferring assets to a MiCA licensed provider is appropriate. The broader trend remains the same: under MiCA, even major international players are not exempt from the European licensing framework if they fail to comply in time.

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Frequently asked questions

Will I lose my crypto now that Binance doesn't get its EU license?

Not necessarily. Your ownership rights over your crypto assets do not change. The risk lies in losing access to the platform's services, not in losing the assets themselves.

Should I withdraw all my crypto from Binance now?

That is an individual decision depending on your risk tolerance and how this matter develops further. In any case, we recommend following official communication channels and not waiting until the last moment if the license is indeed rejected.

Can my bank refuse a transfer from Binance?

That is possible. Banks are increasingly taking into account whether a platform holds a valid MiCA license. A missing license can lead to additional questions, delays, or in the worst case, a refusal.

Has this news already been officially confirmed?

Yes. Binance has confirmed that it has withdrawn its MiCA licence application in Greece and, as of 1 July 2026, does not hold a MiCA licence within the European Union. The exchange has indicated that it intends to submit a new licence application in another EU Member State at a later stage.

What is the difference with the earlier USDT issue?

The USDT matter concerned whether a specific stablecoin token could still be offered by licensed platforms, because the issuer (Tether) does not hold the required MiCA recognition. The Binance matter concerns whether the platform itself, as a whole, may remain active within the EU. The impact of a potential rejection of Binance is therefore in principle greater, since it affects all holdings and activities on the platform, not just one token.

About Aeacus Lawyers

Aeacus Lawyers is the only crypto-native law firm in Belgium fully focused on the tax and legal aspects of cryptocurrency. We assist individuals and businesses with all questions regarding crypto taxation, compliance, banking issues, and tax audits.

This article is based on Reuters reporting from June 16, 2026 and additional publicly available sources. At the time of publication, there is no official confirmation from the Greek regulator or ESMA. This article is for informational purposes only and does not constitute legal advice.

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