Binance closes in Europe (MiCA): what to do, where to go
Binance suspended its services in the European Union on 1 July 2026, for lack of a MiCA licence. Your funds don't disappear, but you have to withdraw or transfer them to a MiCA-licensed platform. Kraken, regulated across the whole EU, is our #1 pick.
Why did Binance close in Europe?
Since 1 July 2026, Binance has suspended part of its services in the European Union, having failed to obtain the licence required by the MiCA regulation (Markets in Crypto-Assets). This European framework requires any crypto-asset platform wishing to serve EU residents to obtain a licence as a credit institution or crypto-asset service provider, with strict requirements on own funds, safekeeping of assets and compliance.
In practice, millions of European users, about 2 million in France alone, find themselves without normal access to their usual platform and are looking for a regulated alternative.
What happens to my funds on Binance?
Your crypto-assets don't disappear. In practice, a service suspension of this kind generally still lets you withdraw or transfer your funds, while new deposits, purchases and some services are blocked. The risk is not 'losing' your crypto, but being stuck on a platform with reduced features.
Don't sit and wait
As long as your funds are on a platform that no longer operates normally in the EU, you depend on its withdrawal terms. The safest move is to transfer your assets to a MiCA-licensed platform, without rushing but without waiting indefinitely.
Which platform should you move to after Binance?
The rule is simple: choose a MiCA-licensed platform, which can therefore operate legally across the whole EU. Several players now are. We detail the criteria and the full list on our dedicated page: which MiCA alternative to Binance.
Our #1 pick is Kraken: MiCA-licensed, founded in 2011, never hacked, PSAN-registered in France, with low fees via the Kraken Pro app. It is a particularly good fit for former Binance users who want a wide choice of crypto and competitive fees.
- MiCA-licensed: operates legally across the whole EU
- Longevity (2011) and a solid security track record
- Kraken Pro fees of 0.16%-0.26%, free SEPA deposit
- Referral programme: up to €250 in bonus depending on the current offer
How do you transfer your crypto from Binance to Kraken?
The transfer is done by sending your crypto from Binance to your Kraken deposit address, network by network. The costliest mistake is picking the wrong transfer network or forgetting a memo/tag: the funds can then be lost. We detail every step, network by network, in our Binance to Kraken migration guide.
Start by opening your Kraken account
Before any transfer, you need a verified Kraken account. You can take the opportunity to use the Kraken referral code and aim for the welcome bonus, meeting its conditions (bank-transfer deposit, minimum purchase volume).
Ready to open a Kraken account? Find the verified referral code and all the bonus terms.
See the Kraken referral codeInvesting in crypto-assets carries a risk of partial or total loss of capital. Past performance is no guarantee of future results.