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Binance EU shutdown: what actually happens to your funds and how to move them out

Binance

Cryptocoins Exchanges / Binance 81 Views

Seeing plenty of panic posts so here's the actual state of affairs. Binance didn't get a MiCA licence in time, withdrew the Greek software on June 24. From July 1 EU accounts can't do new orders, deposits, signups, or Earn/staking. Withdrawals keep open, this can be a wind-down not a freeze.

When you're shifting funds out, two practical choices: send to a different CEX (re-KYC, takes time) or self-custody wallet then swap from there. In the event you go the self-custody route and need to convert between belongings with out opening a new trade account, non-custodial swap aggregators route the commerce without holding your funds, so no new KYC step wanted for the swap itself.

Disclaimer: I built CypherGoat (cyphergoat.com/binance-eu), mentioning it as a result of it's immediately related here, not making an attempt to sneak in an ad.

Completely happy to answer questions on the MiCA aspect if anyone's confused on timeline.

submitted by /u/4rkal
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