Richard Teng On MiCA Transition: Binance User Assets Remain Safe, Withdrawals To Continue After July 1

by
Alisa Davidson

Printed: July 01, 2026 at 3:08 am Up to date: July 01, 2026 at 3:08 am

by Anastasiia O

Edited and fact-checked:
July 01, 2026 at 3:08 am

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Cryptocurrency change Binance is continuous its transition towards compliance with the European Union’s Markets in Crypto-Property (MiCA) regulation, in keeping with an announcement from the cryptocurrency change’s Co-Chief Govt Officer, Richard Teng.

In a message printed on the social media platform X, Teng acknowledged that the corporate stays targeted on supporting customers all through the regulatory transition. He stated buyer property proceed to be safe and that customers affected by the adjustments will retain entry to beforehand introduced choices, together with the flexibility to withdraw funds after 1 July. 

Binance additionally confirmed that it’s contacting affected customers straight with details about the accessible subsequent steps, whereas account-related inquiries are being dealt with by official buyer help channels. Based on the corporate, its precedence through the transition is to supply customers with clear data and guarantee operational continuity.

Regulatory Shift Drives Licensing Technique

The developments come as European regulators proceed implementing MiCA, a complete regulatory framework designed to strengthen oversight of the cryptocurrency sector. The laws requires crypto asset service suppliers to acquire authorization from the regulator of a person EU member state. As soon as licensed, firms can use the authorization to supply providers throughout all 27 EU nations below a passporting regime. European authorities have argued that the framework is meant to enhance investor safety and scale back potential dangers related to the quickly increasing digital asset trade.

Final week, Binance confirmed it had withdrawn its MiCA license utility in Greece, shortly earlier than the EU’s regulatory transition deadline. The corporate acknowledged that it plans to hunt authorization in one other EU member state, though it has not but disclosed the jurisdiction the place the brand new utility might be submitted.

Binance initially utilized for a MiCA license with Greece’s Hellenic Capital Market Fee in January 2026. Based on the corporate, the Greek regulator accomplished its evaluate and regarded the applying compliant earlier than referring it to the European Securities and Markets Authority for added evaluation. Nevertheless, no formal determination was in the end issued on the applying.

In a separate assertion, Binance reaffirmed its dedication to working below the MiCA framework, describing Europe as a strategically essential market. The corporate stated it continues to help the target of building a harmonized regulatory setting for crypto property throughout the European Union and expressed confidence that it’s going to acquire authorization in one other EU member state within the coming months.

Alisa, a devoted journalist on the MPost, makes a speciality of crypto, AI, investments, and the expansive realm of Web3. With a eager eye for rising developments and applied sciences, she delivers complete protection to tell and have interaction readers within the ever-evolving panorama of digital finance.

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