Binance has suspended its cryptocurrency trading services across the European Union, effective July 1, 2026.
The global exchange confirmed the withdrawal after failing to secure the necessary authorization under the EU's new regulatory framework.
According to Le Temps, clients withdrew €400 million in assets from Binance during the week of June 22 alone, anticipating the enforcement deadline.
The move marks the most high-profile casualty of the bloc's stringent crypto rules, which have left only a tiny fraction of firms holding valid licenses to operate legally.
The regulatory shift has triggered immediate capital flight.
According to Le Temps, clients withdrew €400 million in assets from Binance during the week of June 22 alone, anticipating the enforcement deadline.
The Swiss publication reports that hundreds of other crypto platforms have also been excluded from the European market due to the lack of a local seat or proper approval.