No MiCAR license for Binance – what now?

MiCAR is now fully in force

The transitional period has expired. Since 1 July 2026, crypto providers without a MiCAR license are generally no longer allowed to actively offer their services to EU customers.

MiCAR stands for Markets in Crypto-Assets Regulation and is the unified regulatory framework for the crypto market in the EU.

What matters now for users is whether their provider actually holds a MiCAR license. This can be verified via the register of the European Securities and Markets Authority (ESMA).

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”.

On 24 June 2026, it emerged that Binance had withdrawn its MiCAR application in Greece and now intends to seek a license in another EU member state.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 open at the time of this article.

Until then, Binance may no longer offer its services to EU customers on a regular basis. According to Euronews, the company informed its French customers by email that no new customers would be accepted and that crypto services would no longer be provided from 1 July 2026.

Binance later clarified that similar notifications had also been sent to affected users in other EU markets. At the same time, the company stated that customer assets remain “safe and secure” and accessible at all times.

What does this mean for you?

If your crypto provider does not hold a MiCAR license, this could now directly affect you. ESMA requires unauthorized providers to wind down their business with EU customers in an orderly manner: no new EU customers, no active marketing, and only measures necessary for the sale, transfer or closing of positions.

In practice, this can mean:

• New registrations or new customer relationships are no longer possible.
• Deposits, trading and other services may be restricted or suspended.
• Transfers and withdrawals may still be possible in order to move cryptocurrencies to another platform in an orderly manner.

And this doesn’t only affect Binance. For other platforms, too, the key question now is whether they actually hold a MiCAR license – and not just a previous national registration.

Our tip: Take time now to check how your provider is set up. Better to switch deliberately today than to react under time pressure tomorrow.

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 a previous national registration, but a genuine authorization under the new EU framework. This is the only basis for offering crypto services in the EU on a lasting, regular basis.
• Clear supervision: Who supervises the provider? A transparent regulatory setup – such as Germany’s Federal Financial Supervisory Authority (BaFin) – provides clarity.
• Crypto custody in the EU: Where are your cryptocurrencies actually held? Custody within the EU gives you clarity on the applicable legal framework.
• Additional insurance coverage: Some providers go beyond regulatory minimum requirements and additionally protect custodied crypto assets – for example against hacking or theft.
• 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 background are easy to verify makes it easier for you to assess accountability.

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. Especially now that the MiCAR transitional phase is over, how a provider is set up from a regulatory perspective matters more than ever.

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.

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.