On 1 July 2026, a page turns for crypto in Europe. The transition period of MiCA, the EU's regulation on crypto-assets, ends on the evening of 30 June. From the next day, no platform can serve EU clients without authorization. Binance, the world's largest platform, doesn't have it. The result: Binance is halting part of its services in France on 1 July 2026[15]. If you hold crypto somewhere, here's what changes for you.
What happens on 1 July 2026
The end of the MiCA transition
MiCA is the European Union's single framework for crypto-assets. It replaces the old national rules, which varied from one country to another. To give companies time to adapt, the EU set a transition period. In France, that period lasted 18 months, from 30 December 2024 to 30 June 2026[2]. During that time, a French platform already registered could keep operating while applying for its new authorization.
This tolerance ends on the evening of 30 June 2026. From 1 July, any company providing crypto services to EU clients without MiCA authorization must cease that activity[1]. The AMF, France's financial markets regulator, confirms this for France.
Binance closes part of its services in France
Binance warned its French users by email around 23 June 2026. From 1 July, for a French account: no new spot orders (open orders are cancelled, trading bots disabled), no new subscriptions to Earn and staking products, Binance Pay stops, and access to Launchpool and Launchpad ends[6][15]. No new French user can register either.
Two important nuances. First, some products have a later deadline: margin positions and loans (Binance Loans, Flexible Loans) for French users stay open until 1 October 2026, after which they are closed or liquidated[6]. Second, Binance says funds remain accessible: you can withdraw your crypto even after 1 July[6].
MiCA, CASP, PSAN: the vocabulary in plain words
Three acronyms, one simple idea
MiCA (Markets in Crypto-Assets) is the European regulation. The authorization it creates is called CASP (Crypto-Asset Service Provider). It's the official green light to offer crypto services across the whole EU. Before MiCA, France had its own status, the PSAN (provider of services on digital assets, also called DASP in English). The PSAN was just a national registration, less demanding than the CASP authorization.
A key point for what follows: an old French PSAN registration ceases to have effect at the end of the transition period, on 30 June 2026[4]. In other words, being a PSAN is no longer enough. You need the CASP.
One advantage of the CASP: the European passport
The CASP has a strength. Once authorized in one EU country, a platform can serve all the others through a mechanism called passporting. That's the single-market idea: one authorization, twenty-seven countries[16]. It's also why the stakes are so high: with no authorization anywhere in the EU, you lose the entire European market at once.
Why Binance is in the spotlight
No MiCA authorization in the EU
To date, Binance has obtained no CASP authorization in any EU country[7]. The company confirmed it itself to its French clients in late June 2026: neither Binance France nor any other group entity would have MiCA authorization by 30 June[5]. That's what triggers the service shutdown.
Yet Binance France is no stranger to regulators. The company was registered as a PSAN by the AMF on 4 May 2022, under number E2022-037: it was the first major global platform registered in France[3][4]. But that national registration is precisely what expires on 30 June 2026.
The Greek application withdrawn
Binance had tried its luck elsewhere. The group filed a MiCA application in Greece, in early 2026, with the Greek regulator (the HCMC). According to Reuters, regulators chiefly pointed to past money-laundering penalties, a complex group structure and what they viewed as a risk-taking culture[17]. Facing this probable rejection, Binance officially withdrew its application around 24-25 June 2026, about a week after the Reuters agency reported the likely rejection[9][17]. The company said it wanted to seek authorization in another EU country.
Talks with the AMF, but no application filed
According to the specialist press, Binance is in talks with the AMF about a possible filing in France, but no formal application had been filed as of mid-June 2026[10]. France is even presented by some outlets as Binance's last resort in Europe[10]. Gillian Lynch, head of Binance for Europe and the UK, stated publicly: "We are not leaving Europe"[5]. At this stage, these are talks reported by the press, not an authorization granted nor an official refusal in France.
A judicial investigation in France
There's another factor that weighs. In France, Binance is the subject of a judicial investigation opened by the Paris prosecutor (JUNALCO) over alleged aggravated money laundering, money laundering linked to tax fraud and to drug trafficking, and the illegal exercise of the PSAN profession, over the 2019-2024 period[12][13]. Binance has denied the allegations and said it will vigorously fight any charges brought against it[18], and the presumption of innocence applies: the investigation is ongoing and nothing has been judged. But this case inevitably weighs on how regulators assess the group's compliance.
What to do if you hold crypto
First, check your platform's authorization
The first useful thing is to know whether your platform is CASP-authorized. The AMF publishes a white list of authorized providers[3]. If your platform appears on it, it may keep operating. If it doesn't, it must either be authorized elsewhere in the EU and serve you via the passport, or stop its activity with French clients.
Watch out for a trap the AMF and ESMA flag: MiCA protection applies only to the legal entity actually authorized in the EU, not to affiliated entities or entities authorized outside the EU[1]. So check that it's really the right entity that appears on the white list.
If you're on Binance in France
Binance lists three options for its French users: transfer their assets to a self-custody wallet (a wallet whose keys you hold yourself), move them to another MiCA-authorized platform, or sell them back to euros[6]. Funds don't disappear on 1 July, but spot trading services stop. Keep in mind the 1 October 2026 deadline too if you have margin positions or loans open[6].
Before moving anything, keep fees and tax in mind: selling crypto for euros can be a taxable event. Check your situation rather than acting in a rush.
Not just Binance
The issue goes beyond a single platform. In early 2026, the AMF counted around 90 French PSANs that still had no MiCA authorization; roughly 30 percent were working on their authorization file, and nearly 40 percent said they did not intend to file one[14]. These are early-year figures, which may have changed since. Across Europe, hundreds of players are affected by this shift[16]. In short, it's not just a Binance problem.
No panic, but stay wary of scams
What an unauthorized platform risks
Operating in France without MiCA authorization after 1 July 2026 is a criminal offence. For a natural person, it's punishable by 2 years' imprisonment and a 30,000-euro fine, under Articles L. 54-10-4 and L. 572-23 of the French Monetary and Financial Code[2]. For a company, fines are higher: this 30,000-euro figure is therefore not the cap for a business. The AMF also states it can publish a black list of unauthorized players, with a public warning, and ask a court to block access to their websites[2].
A playground for scams
A period of confusion like this attracts fraudsters. Be wary of "urgent" messages that play on the fear of losing your crypto and ask you to "secure" your funds via a link, or to share your wallet's secret phrase. A serious platform never asks for your secret phrase. When in doubt, go back to the official source, such as the AMF website, rather than a link received in a message.
In summary
On 1 July 2026, the end of the MiCA transition requires a CASP authorization from every platform that serves European clients. Binance doesn't have it and is halting part of its services in France, while keeping withdrawals open. For you, the essentials come down to three moves: check your platform's authorization on the AMF white list, plan ahead before the deadline if you're affected, and be wary of messages that surf on panic. It's not just a Binance affair: the entire European market is moving under a single framework.
This article is informational and does not constitute investment advice. It is neither a recommendation to buy nor a recommendation to sell crypto-assets. Crypto-assets are highly volatile and carry a risk of capital loss. To assess your situation, refer to the AMF savers' area.