Binance withdrew its MiCA license application in Greece and halted some services and new registrations for EU users less than 10 days before the July 1 deadline, according to its head of Europe Gillian Lynch. MiCA is the European Union’s Markets in Crypto‑Assets regulation that requires crypto firms to obtain national licenses and be supervised by the European Securities and Markets Authority. Binance said it will suspend certain services and stop accepting new EU registrations while remaining committed to securing a license and staying in Europe. Lynch argued that MiCA’s success should be measured by how many firms are brought into the regulated system rather than by the existence of the rulebook. She defended Binance’s anti‑money‑laundering controls and denied allegations in a Wall Street Journal report that the exchange failed to report suspicious activity. Binance said it identified problematic accounts, off‑boarded them and reported them to law‑enforcement authorities, contrary to the Journal’s characterization. The exchange also rejected claims that it ignored sanctions or retaliated against compliance staff, calling those allegations categorically false. Binance had previously sued the Journal over reporting on Iran‑linked accounts earlier in the year. Private advice from ESMA to national regulators highlighted compliance concerns that contributed to the withdrawal. Binance expects its next application to proceed quickly after completing prior steps with Greece’s Hellenic Capital Market Commission, though board meetings were repeatedly postponed. The company has invested more than $300 million annually in compliance and employs over 1,500 compliance staff worldwide. Analysts note that many crypto service providers may not survive MiCA, potentially forcing over 10 million users to migrate to approved platforms. Binance said it remains committed to Europe and to being regulated, viewing MiCA as a positive step for industry maturity and planning to help customers transition before pursuing a new licensing strategy.