EU MiCA Takes Effect: CASP License Pass Rate Only 17%, Binance Rejected, Bybit and Coinbase Get Green Light

News Editor

2026-06-30 13:01:29

The EU Markets in Crypto-Assets Regulation (MiCA) took full effect on July 1, 2026, requiring all crypto platforms serving EU clients to hold a CASP license. The current pass rate is only about 17%. Binance was rejected for a Greek license and suspended most EU services, applying for a French license instead. Bybit achieved compliance via an Austrian license, while Coinbase, Kraken, and OKX already licensed platforms gained EU-wide passage. The European crypto market landscape is rapidly restructuring.

MiCACASP licenseBinanceBybitCoinbaseEU regulationcrypto complianceEuropean market

MiCA Fully Enforced, CASP License Becomes Hard Barrier

The EU Markets in Crypto-Assets Regulation (MiCA) took full effect on July 1, 2026. From this date, all crypto asset service providers targeting EU clients must hold a CASP (Crypto Asset Service Provider) license. The current approval rate is a mere 17%, indicating extremely stringent scrutiny.

Binance Blocked, Shifts to France

Binance's Greek license application was rejected, forcing the exchange to suspend most of its EU services. The company is now applying for a French license to seek a compliant gateway, marking a strategic setback in the EU market.

Bybit, Coinbase Seize Compliance Advantage

Bybit achieved compliance via an Austrian license, becoming one of the first exchanges to secure a EU-wide pass. Coinbase, Kraken, and OKX, already holding licenses in individual member states, automatically obtained full European passage, further consolidating their leadership positions.

With MiCA fully implemented, the European crypto market is undergoing a ruthless compliance race, accelerating the restructuring of the competitive landscape.

This article was originally published by Bit.Fan. For more cryptocurrency news and market insights, visit www.bit.fan.

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