No MiCAR license for Binance – what now?

July 1 is getting serious

Time is running out for Binance and others: On 1 July 2026, the MiCAR transitional period ends. Crypto providers without a MiCAR license will generally no longer be allowed to actively serve EU customers.

MiCAR stands for Markets in Crypto-Assets Regulation – the EU’s unified rulebook for the crypto market.

What does this actually mean? Of the more than 1,200 crypto providers active in the EU, only around 210 had obtained a full MiCAR license by May. This was reported by Euronews citing the European Securities and Markets Authority (ESMA). For the rest, time is running out – including some of the world’s largest platforms.

What about Binance?

Binance, the world’s largest crypto exchange by trading volume, applied for a MiCAR license in Greece in early 2026. The logic: any provider that obtains a license in one EU country may offer its services across all 27 member states – a mechanism known as “passporting”.

In mid-June 2026, news agency Reuters reported that the Greek financial regulator was expected to reject the application. On 24 June, it emerged that Binance had withdrawn its MiCAR application in Greece and now intends to seek a license in another EU member state.

Whether this will succeed – and when – remains unclear at the time of writing. But one thing is certain: without a valid license in at least one EU country, Binance will generally no longer be allowed to actively offer its crypto services to EU customers from 1 July 2026.

What does this mean for you?

If your crypto provider doesn’t meet the MiCAR requirements, the consequences could hit you directly:

• Deposits and withdrawals could be restricted. Unlicensed providers can no longer operate as normal and must wind down their EU business in an orderly manner. This may mean that only certain transfers or withdrawals remain available.
• Trading could be suspended. Without a license, offering trading services in the EU is simply no longer permitted.
• You might have to move your assets under time pressure. If your provider shuts down, you may have very little time to transfer your cryptocurrencies to another platform.

And this doesn’t only affect Binance. 41% of all crypto app downloads in Europe last year went to platforms that currently don’t appear on the list of authorized MiCAR providers. This is based on an analysis by OKX Europe, as reported by Cointelegraph.

Our tip: Better to explore alternatives now, at your own pace, than to be forced to act under pressure later.

What to look for in an alternative

Not every provider is equally well positioned. If you’re looking for a long-term solution, these are the things worth considering:

• Full MiCAR license: Not just an old national registration, but a genuine license under the new EU framework. This is the only basis for lawfully offering crypto services in the EU going forward.
• Supervisory authority: A clear regulatory setup and accountable supervision – such as BaFin (Germany’s Federal Financial Supervisory Authority) – provide clarity on who is responsible and what standards apply.
• Crypto custody in the EU: Where are your cryptocurrencies actually held? Custody within the EU gives you clarity on the applicable legal framework. If custody takes place in Germany, it falls under German law and BaFin oversight.
• Insurance for custodied crypto assets: MiCAR requires a minimum level of financial safeguards. Some providers go further and offer additional insurance – for example against hacking, theft or technical loss.
• Deposit protection for euro balances: Check where your euro balance is held. If it sits with a bank that carries statutory deposit protection, up to €100,000 per bank and customer is protected in Germany. This applies to euro balances – not to cryptocurrencies.
• Transparent corporate structure: Many crypto platforms operate through layered offshore entities. A provider whose ownership, registered office and corporate background are easy to verify makes accountability and regulatory oversight far more straightforward.

BISON: Simple, secure and regulated in Germany

BISON is the crypto platform of the Boerse Stuttgart Group – with over 160 years of capital markets experience. For you, this means: a product built within the regulated environment of the Boerse Stuttgart Group.

First MiCAR license in Germany: Crypto custody at BISON is provided by Boerse Stuttgart Digital Custody GmbH – the first company in Germany to receive a MiCAR license from BaFin. This license is valid across the entire EU.

Insured custody in Germany: Your cryptocurrencies are held in custody in Germany – and are covered by an integrated crime insurance policy against theft and hacking attacks.

Euro balances protected: Your euro balance is held at our German partner banks Solaris SE and Deutsche Bank AG. Deposits are protected by statutory deposit insurance up to €100,000 per bank and customer. If you also use securities trading, a settlement account at the equally German Sutor Bank is added in the background.

Deposit and withdraw crypto free of charge: Want to transfer cryptocurrencies from another provider to BISON? It’s simple and free of charge on our end.

Crypto savings plans: Invest automatically – weekly, monthly or quarterly. Starting from just €0.01. Pause anytime.

More than just crypto: In addition to over 60 cryptocurrencies, you can also trade stocks and ETFs on BISON – all in one app.

How to switch to BISON

1. Download the app or open the web version – BISON is available for iOS, Android and in your browser.
2. Open an account & complete verification – The entire process is digital and usually takes just a few minutes.
3. Transfer your crypto – Simply send your cryptocurrencies to your BISON wallet. Incoming and outgoing crypto transfers are free of charge.

Best to do it now, at your own pace – rather than later under time pressure.

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