By July 1, 2026, all exchanges will need to have a MiCA license to operate in Europe. As you know, I'm not a fan of centralized exchanges. Like everyone else, I started there, then realized the best option was self-custodial with hardware and software wallets. With self-custodial services, you're the true owner of your funds (thanks to the private key), whereas with exchanges, it's like using a bank: they can block your withdrawals for any reason. You're also exposed to potential bankruptcy/insolvency (remember FTX?).
WON'T BINANCE BE COMPLIANT?
According to some rumors, it appears Binance's license application will be rejected by ESMA. The Greek regulator declined to comment, citing confidentiality rules. Binance, however, stated that the situation was progressing well and that it did not expect this. Therefore, starting July 1, 2026, if the license is rejected, Binance will no longer be authorized to operate in the EU and could be banned. This potential ban could have very serious consequences for the industry and, in particular, for all European users.
What do MiCA regulators require?
- AML controls.
- KYC.
- Internal audits.
- Internal controls.
- Transaction monitoring.
- Suspicious transaction reporting.
- Antiterrorist financing controls.
- Compliance with the Travel Rule (on deposits/withdrawals).
- Capital and financial strength.
- Protection of customer assets.
- Separation from company assets.
- Procedures for losses, hacks, and insolvency.
- Cybersecurity.
- Management truly present.
- National regulator's ability to supervise the company.
Binance has two more weeks to comply, otherwise it will no longer be legal for European users.
MAJOR MICA COMPLIANT EXCHANGES
- Bitstamp.
- Bitvavo.
- Blockchain.com.
- Bybit.
- Coinbase.
- Crypto.com.
- Gate.
- Gemini.
- Kraken.
- Kucoin.
- OKX.
- Relai (P2P service).
- Revolut (bank).
- Robinhood (broker).
- Swissborg.
- Trade Republic (broker).
- Trading 212 (broker).
Countries that have provided the most authorizations: Germany (55), Netherlands (28), France (22), Malta (18), Cyprus (12).
MAJOR NCASP EXCHANGES (NOT AUTHORIZED)
- Binance (pending).
- Bitget (pending).
- Bitfinex (being linked to USDT, I think it is not planned).
- Bitmex.
- Blofin (no KYC).
- HTX.
- MEXC (already sanctioned by the Dutch authorities, I believe they haven't applied for a license anywhere).
- Weex (no KYC).
I believe that where the license has been requested, there is an intention to become regulated (Binance, Bitget), while the other four exchanges, I think, are not interested in complying. Bitmex (formerly A.Hayes' exchange and the first to introduce derivatives) I believe has not applied, Bitfinex is connected to Tether so it is unlikely to get it (USDT is not MiCA compliant), Blofin and Weex are notorious for not having KYC, HTX (owned by Justin Sun) had rumors of an attempt to obtain a license in Malta, while I believe MEXC has no intention of obtaining one. Please note, this list is from mid-June 2026. I can't predict the future until July 1st, so I recommend checking here: CaspTracker.
Article always updated with all the possibilities of on-chain farming (airdrop): Some Sites To Earn Crypto Bonus (Old & New)
