The world's largest cryptocurrency exchange, Binance, has notified its European users that it will cease providing services effective July 1, 2026, the Financial Times reports.

The reason was the inability to obtain the license required to operate within the European Union. On that date, a regulation will come into effect requiring crypto companies operating in the EU to undergo a special licensing procedure.

In early 2026, Binance applied for a pan-European license through Greece. In June, Reuters, citing sources, reported that the Greek regulator intended to reject the application. The company itself stated that it had not yet received an official refusal, but had decided to withdraw the application and continue pursuing a license in another EU country.

Amid tightening regulatory requirements, the number of crypto services operating in the European market has plummeted. According to CryptoSlate, by May 2026, only 194 companies had received the required license, while before the new regulations were introduced, several thousand crypto services were operating in the EU.