Binance CEO Responds to EU's MiCA Regulations Taking Effect: Will Fully Support User Transition

BlockBeats News, July 1st, Binance Co-CEO Richard Teng stated, "With the MiCA-related changes taking effect in the EU today, I want to personally assure affected users that we will fully support you through this transition with a cautious, clear, and responsible approach. After July 1st, affected users will still be able to use the options provided, including applicable withdrawals." Binance is working diligently behind the scenes, including close collaboration with regulatory authorities, to responsibly navigate this transformation and continue to serve users in the best possible way. Binance is communicating directly with affected users on the next steps and available options.

The European Union's "Markets in Crypto-Assets Regulation" (MiCA) framework landed on July 1st, with the European Securities and Markets Authority (ESMA) calling on unauthorized crypto asset service providers (CASPs) to orderly cease relevant business activities upon the conclusion of the MiCA transition period.