Binance has told its customers in the EU that it will stop providing services to them from next week because it will not be licensed to operate in the region, in a significant setback for the world’s biggest crypto exchange.
From July 1, all crypto companies operating in the EU must hold a licence under the bloc’s Markets in Crypto-Assets Regulation or risk being penalised.
Binance’s application in Greece for a bloc-wide licence was rejected last week, less than a fortnight before the deadline comes into force, and the exchange now plans to apply through France, where it has previously been in talks about a licence, according to people familiar with its thinking.
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