The MiCA transition period in Europe ended on July 1, cutting off unlicensed cryptocurrency exchanges from serving new clients in the EU.
Finance Magnates examined what users with an EU IP address face when trying to register on five platforms that remain without a CASP license, and compared these registration experiences with each exchange’s public messaging.
Binance: Restrictions announced, registration remains open
Binance has withdrawn its MiCA It applied for the license in Greece on June 24, and said it would stop onboarding new users in the EU and open new jobs as of July 1. Existing users will retain the ability to withdraw.
CEO Richard Teng reiterated this on X, saying that user assets remain safe and secure and that affected users will retain access to previously reported options.
As changes related to MiCA come into effect today in the European Union, I want to personally reassure our affected users that we remain fully committed to supporting you through this transition carefully, clearly and responsibly. Your assets will remain safe and secure @binance. After July 1… pic.twitter.com/fyqdNYjGrA
– Richard Teng (@_RichardTeng) July 1, 2026
Loading the Binance website from an EU IP address results in a pop-up titled “European Regulatory Information,” but the registration process itself is not immediately blocked. Instead, users are directed to contact customer support.
It has not been tested whether the recording will ultimately succeed after this point.
Co-founder of Binance Changping Zhao He offered his own account of the license withdrawal, saying regulators had previously deemed the app “fully compliant” and describing competition between EU jurisdictions to host Binance’s license. These allegations could not be independently verified.
MEXC: Reassurance, no obvious change during recording
MEXC’s only public comment on MiCA came from its support account in response to a user question on X on June 23, stating that EU users can continue to use the platform normally and that any future changes will be announced in advance. It was not an official statement from the company.
The initial recording experience reflected that message. Finance Magnates did not face any apparent restrictions during registration, and the published list of jurisdictions restricted by MEXC, last updated in May 2026, does not include EU member states.
MixIt was to lead He pointed to EU compliance It was a priority before the deadline. In April, newly appointed CEO Vugar Usi, former COO of Bitget, described MiCA licensing as a “top strategic priority.”
Dear Mixer @svilleville We completely understand the anxiety surrounding these upcoming deadlines, and we want to reassure you that your peace of mind is our absolute priority. To be completely transparent with you: MEXC is constantly monitoring regulatory updates in the EU…
– MEXC (@MEXC) June 23, 2026
However, as of July 1, no public update on the license request has been posted following the support account response.
Bitget: License suspended, registration increases friction
Bitget CEO Gracie Chen said the exchange has applied for a MiCA license in Austria and is awaiting a decision. The company also said it would not provide services in the European Economic Area without a permit.
A quick update for our EU community on Bitget EU’s position in the MiCAR licensing process: 🔹 Bitget EU has submitted an application for a license as a crypto asset service provider under MiCAR to the Austrian Financial Market Authority. 🔹 Bitget EU order is… https://t.co/SKampjmanw
– Gracy Chen @Bitget (@GracyBitget) June 17, 2026
While testing Finance Magnates, registering from a German IP address resulted in a “Restricted IP” pop-up specifically named Germany. Users can only proceed after marking a self-declaration confirming that they are not resident in Germany. It has not been tested whether additional checks are applied later in the setup process.
BingX: The most stringent sign-up flow
ping x She publicly revealed her MiCA condition. In an update on June 16, BingX EU said it had applied for a CASP license from the Austrian FMA and that the application was at an advanced stage, although it had not yet been approved.
ICYMI: Update on BingX EU’s MiCAR licensing process 🔗 Full details: https://t.co/4GwPUOubn3
– Bing X (@BingXOfficial) June 16, 2026
Among the exchanges tested, BingX provided the most stringent registration flow. Finance Magnates was unable to proceed with registration from an EU IP address, with no workaround visible during the initial registration process.
HTX and Bitfinex: No public statement, registration still available
Neither exchange has commented publicly on the status of MiCA implementation or specific plans for EU users. This lack of communication is reflected in the absence of visual changes during recording.
Finance Magnates was able to access the registration process on both platforms, and the list of restricted jurisdictions published for each exchange continues to omit EU member states.
No single approach has emerged
Finance Magnates’ testing found no consistent pattern in how unlicensed exchanges deal with new users in the EU after the end of the MiCA transition period.
Binance, Bitget, and BingX all offer friction during registration, in different forms and to different degrees. HTX and Bitfinex showed no visible change, consistent with not making any public statement at all. The MEXC trial also showed no clear change, but the list of published jurisdictions has not been updated since May.
What happens after registration, including identity verification, account approval and access to deposits, trading or withdrawals, cannot be independently verified by this methodology.
Methodology: Finance Magnates tested subscription flows that were publicly accessible from IP addresses located in the EU on July 1, 2026, without using existing customer accounts. The review covers the initial registration experience only and does not evaluate subsequent KYC procedures, account approval, or access to trading, deposits and withdrawals for existing or newly registered users.
This article was written by Tanya Chipkova at www.financemagnates.com.
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