Binance has notified EU customers that it will suspend services starting next week due to the lack of a MiCA license. Starting July 1, all crypto firms operating within the EU must hold a MiCA license or face penalties.

Binance’s application for an EU-wide license in Greece was rejected last week. The platform now plans to file a new application in France. Customers from Poland, Italy, Spain and France have received withdrawal instructions this week.

Binance stated that some users may be affected before July 1, yet it is not mandatory for users to withdraw funds before the deadline, and all user assets remain safe.