Binance is the world's largest cryptocurrency exchange by trading volume, founded in 2017. In November 2023 it reached a landmark $4.3 billion settlement with the US Department of Justice and its founder pleaded guilty to federal charges. As of mid-2026, Binance does not hold a confirmed full MiCA CASP authorisation in the EU — its status is pending. European users can access the platform but should understand the regulatory context before doing so. This is information, not financial advice.
Regulatory Standing — Global Overview
Binance is registered in the Cayman Islands and operates without a single fixed headquarters — a structure that has drawn scrutiny from regulators worldwide.
The exchange has obtained or maintained national-level registrations in several jurisdictions, including VASP registrations in Poland and Lithuania, and has held licences in Dubai (VARA) and Bahrain (CBB). However, it has also received regulatory bans, warnings, or ceased operations in multiple countries including the UK (FCA warning), Netherlands (DNB ban), Germany (BaFin warning), and others at various points since 2021.
Users in any jurisdiction should independently verify Binance's current regulatory status in their country via their national regulator's public register before opening an account.
The 2023 DOJ Settlement — What Happened
In November 2023, Binance reached a $4.3 billion settlement with the US Department of Justice — one of the largest corporate financial penalties in US history. Binance pleaded guilty to violating the Bank Secrecy Act (BSA), including failures in anti-money laundering (AML) controls and processing transactions for sanctioned entities.
Founder and then-CEO Changpeng Zhao (CZ) personally pleaded guilty to a federal BSA charge, resigned as CEO, and was sentenced to four months in federal prison, which he has since served. Richard Teng, previously head of regional markets, became CEO.
The settlement also involved the Financial Crimes Enforcement Network (FinCEN), the Office of Foreign Assets Control (OFAC), and the Commodity Futures Trading Commission (CFTC). As part of the resolution, Binance agreed to ongoing compliance monitoring.
These are matters of public record. Exchange Atlas considers them material facts relevant to any user assessing platform risk.
EU Regulatory Position — MiCA and User Access
The EU's Markets in Crypto-Assets Regulation (MiCA) requires exchanges serving EU customers to obtain a Crypto-Asset Service Provider (CASP) authorisation from a national competent authority. Title VI of MiCA phased in through December 2024.
As of our research to June 2026, Binance does not have a confirmed full MiCA CASP authorisation. Its status is categorised as pending. We have not been able to verify an active CASP entry for Binance on ESMA's public register or any national register that would cover cross-border EU passporting.
Binance previously held a French PSAN (prestataire de services sur actifs numériques) registration but withdrew it in May 2023. It retains some EU-level VASP registrations but these are not equivalent to a full MiCA CASP authorisation.
EU users can technically access Binance.com, but the exchange does not currently have confirmed MiCA authorisation. Regulators in individual EU member states may take different views on access.
For comparison: Coinbase, Kraken, Bitstamp, OKX, Crypto.com, Gemini, and Bitpanda have confirmed MiCA CASP authorisations as of our research.
Products and Scale
Binance consistently ranks as the world's highest-volume cryptocurrency exchange. It offers spot trading across hundreds of pairs, futures and perpetual contracts, options, staking, savings products, an NFT marketplace, and its own blockchain ecosystem (BNB Chain).
The exchange publishes Proof of Reserves (PoR) reports, using third-party attestation to demonstrate asset backing. These are not equivalent to a full audit but provide more transparency than no disclosure.
Binance's native token BNB (formerly Binance Coin) provides trading fee discounts on the platform. Users should be aware that holding exchange-native tokens carries platform-specific risk.
Binance.US operates as a separate entity for US customers and is subject to distinct regulatory proceedings.
Strengths & limitations
Strengths
- Largest exchange by reported spot trading volume, operating since 2017.
- Broad product range (spot, derivatives, earn) where legally available.
- Frequently cited for low headline trading fees at higher volume tiers (verify the live schedule).
Limitations
- No confirmed full EU MiCA CASP authorisation in our research — EU status marked pending.
- Availability and products are heavily fragmented and restricted by country; significant past regulatory scrutiny.
- We have not completed a hands-on test, so we publish no fees, limits or rating.
Frequently asked questions
Can EU users still use Binance?
As of mid-2026, EU users can access Binance.com, but Binance does not hold a confirmed full MiCA CASP authorisation covering the EU. This means it does not have the same regulatory standing as exchanges such as Coinbase, Kraken, or Bitstamp, which have confirmed CASP licences. Individual EU member states may apply different rules. Users should check their national regulator's position and make their own assessment of platform risk. This is information, not financial advice.
What happened to Binance in 2023?
In November 2023, Binance pleaded guilty to violating the US Bank Secrecy Act and reached a $4.3 billion settlement with the US Department of Justice, FinCEN, OFAC, and the CFTC. The settlement covered failures in AML controls and processing transactions involving sanctioned parties. Founder Changpeng Zhao (CZ) personally pleaded guilty, resigned as CEO, and served a four-month federal prison sentence. Richard Teng became CEO. Binance agreed to ongoing compliance monitoring as part of the resolution.
Does Binance have a MiCA licence?
As of our research to June 2026, Binance's MiCA CASP status is pending — we have not been able to confirm a full CASP authorisation on ESMA's public register or any passporting national register. Binance previously held a French PSAN registration which it withdrew in 2023. This contrasts with exchanges such as Coinbase (Luxembourg and Ireland), Kraken (Ireland and Luxembourg), and Bitstamp (Luxembourg) which have confirmed MiCA authorisations. Always verify current status directly with ESMA or the relevant national competent authority.