Introduction

In my recent article with title "Binance and the EU MiCA Regulation" I tried to provide an overview about the situation with Binance and its EU operations after losing the deadline of acquiring a MiCA licence on 1st July 2026.

And although I was optimistic that Binance will finally find a way to obtain a MiCA license either through Greece or France, the situation for Binance's future in Europe only got worse.

Binance not only withdrew its application to obtain a MiCA license from Greece on June 2026, not only their attempt to obtain another after the deadline passed through France failed, Binance now plan to terminate its operations within the European Union wide area by one country at a time starting initially with France by December 2026.

Binance France

The start was made through an announcement to its customers in France, notifying that Binance France will close every customer account by 31 December 2026 after missing its MiCA authorisation, with deposits already suspended and impose a monthly management fee of 0.0025% on accounts with remaining balances from 29 November or a flat 10 USDC fee until all balances will become zero.

That means that If a French Binance user holds crypto with Binance France, he has until 31 December 2026 to withdraw everything, and when we say EVERYTHING we mean EVERYTHING with fees starting to bite on 29 November. By December 31, 2026, there will be no user accounts on Binance France at all and is expected to affect about 2 million users in France.

Interestingly, Binance France users are also advised to export their full transaction history for tax records!

That said, the termination of accounts only applies to accounts held under the French entity of Binance, not every French user of the global platform with a tax residence in a non-EU country for example Canada.

Binance MiCA Authorisation Failure

As we mentioned in the article "Binance and the EU MiCA Regulation" MiCA is the baseline European standard for crypto-exchanges and it mandates capital requirements, custody rules, and transparency obligations that protect EU investors from bad actors and a non-compliant exchange such as Binance leaves investor's funds outside that protective framework.

Binance France's previous national registration did not automatically imply a MiCA authorization, and Binance had pursued a licensing application in Greece but withdrew it in June. The reason for the withdrawal was that it was notified that the application would fail so it preferred to minimize the damage by withdrawing its application to avoid any negative publicity on the event.

Unfortunately, Binance not only withdrew its application to obtain a MiCA license from Greece on June 2026, not only their attempt to obtain another after the deadline passed through France, Binance has been obliged now to terminate its operations within the European Union wide area by one country at a time starting initially with France by December 2026.

Why Binance Failed to Qualify

The pattern runs deep into broader regulatory troubles and trust erosion that took place within the operations of Binance worldwide during the previous years. In November 2023, Binance agreed to pay more than $4.3 billion to US authorities, and founder Changpeng Zhao pleaded guilty, paid a $50 million personal fine, and stepped down as CEO. More recently, European regulators have questioned Binance over its use of a narrow legal exemption to keep serving EU customers without a licence; Binance replied it is working towards authorisation, while ESMA (The European Securities and Market Authority) reported that enforcement is a matter for national authorities. Finally, repeated issues signal systemic risk for retail users that MiCA cannot tolerate.

Life After Binance

First thing. There is no reason for panic but apparently, the void that would be created it would be covered by the MiCA complied competition. European Union with an adult population of 360 million and an estimate 35 million (10%) cryptofirendly adults is a massive crypto market no its own and Binance withdrawal will make a huge impact on its operations and profits.

In my article "Life after Binance" I described the migration of my funds to Crypto.com after a similar suspension of Binance staking products in the UK during 2023. So this is what I may recommend to the fellow EU crypto users who would like to take another path after Binance's End of EU Days.

This time the safest move is to migrate your funds to a MiCA Licensed Exchange because regulation is the only rational choice at the moment. And, legal certainty, clear custody rules, and audit obligations are the difference between a platform that can operate tomorrow and one that cannot. In the following list you can find a thorough list of exchange markets that are MiCA licensed and have been authorized to operate in the EU legally and the list of exchange that are NOT MiCA licensed and therefore are NOT authorised to operate in the EU legally.

The Bybit Solution

And one notable solution is the Bybit crypto-exchange.

In a nutshell,ByBit is a renowned cryptocurrency exchange specializing in derivatives and spot asset trading. It was founded in 2018 by the Singaporean entrepreneur Ben Zhou, who currently serves as CEO, and the platform quickly earned the trust of traders thanks to its intuitive interface, high security standards, and a broad selection of instruments including futures, options, and margin trading which personally I avoid to use and I don't use.
Bybit is also well known for its low fees, rapid order execution, and advanced features such as trading bots, copy trading, and a Launchpad for new project listings making it attractive both to experienced traders and to novice investors seeking efficient market execution.
​In May 2025, Bybit was authorised as a crypto-asset service provider under the European Union's Markets in Crypto-Assets Regulation by the Austrian Financial Market Authority.

ByBit EUSOT 2026

Currently, ByBit runs a trading competition on its platform called EUSOT 2026 where traders are completing a series of tasks to earn EUSOT points that they can redeem for various prizes including a total pool of 550.000 USDC. Competitions are taking place either individually or in a team basis

You can join ByBit and take part in the competition by using my referral code ZLPP1J4 and make sure to execute a crypto deposit worth of 100$ to earn a bonus of 30$ worth of BTC.

Final Thoughts

It's the end of the world as we know it
It's the end of the world as we know it
It's the end of the world as we know it, and I feel fine

Contrary to what REM were singing in their 1987 song It's The End Of The World (As We Know It), I don't feel fine for the inevitable but apparent End of Days of operations for Binance in the EU. Binance France was only the beginning of Binance withdrawal from the EU and my country Greece will soon follow. Until I will also receive an email stating that I should withdraw my funds from Binance completely due to MiCA regulation, I keep them onboard earning interest.

However, for those would like to choose another path after Binance, Bybit can be a robust and valued MiCA-approved solution that I can also recommend.

Disclaimer: All information found on this article is for informational purposes only. I do not provide any personal investment advice so please make your own research before proceeding to any investment/trading actions

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