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

Binance

Cryptocoins Exchanges / Binance 135 Views

Seeing a variety 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.

Should you're shifting funds out, two sensible choices: send to another CEX (re-KYC, takes time) or self-custody pockets then swap from there. In case you go the self-custody route and need to convert between belongings with out opening a brand new change account, non-custodial swap aggregators route the trade without holding your funds, so no new KYC step needed for the swap itself.

Disclaimer: I built 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.

Pleased to answer questions on the MiCA aspect if anybody's confused on timeline.

submitted by /u/4rkal
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