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

Binance

Cryptocoins Exchanges / Binance 191 Views

Seeing lots of panic posts so here's the precise 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 stay open, this can be a wind-down not a freeze.

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

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

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

submitted by /u/4rkal
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