MiCA unlicensed exchanges showed uneven sign-up checks for new EU users on July 1, after Europe’s transition period ended.
Finance Magnates tested registration flows from EU-based IP addresses across five platforms that lacked a CASP licence. The review covered only the first step of sign-up. It did not test later checks such as KYC, account approval, or access to deposits, trading, and withdrawals.
Binance had already said it would stop onboarding new EU users and opening new positions from July 1. The exchange withdrew its MiCA licence application in Greece on June 24. It also said existing users would still be able to withdraw funds.
Richard Teng repeated that message on X. Meanwhile, Finance Magnates found that an EU IP address triggered a popup called European Regulatory Information on Binance. However, the sign-up flow was not blocked at once, and users were told to contact customer support.
MiCA Unlicensed Exchanges Show Different Barriers
MEXC showed no visible limits during the initial sign-up test. Its support account said on June 23 that EU users could keep using the platform as normal and that it would announce any future changes in advance. However, that reply was not a formal company statement.
Finance Magnates also noted that MEXC’s restricted-jurisdictions list, last updated in May 2026, does not name EU member states. In April, CEO Vugar Usi said MiCA authorisation was a top strategic priority. As of July 1, no further public update on the licence application had appeared beyond the support reply.
Bitget took a different approach. Gracy Chen said the exchange had applied for a MiCA licence in Austria and was waiting for a decision. The company also said it would not offer services in the EEA without authorisation.
During the test, a German IP address on Bitget triggered a Restricted IP popup that named Germany. Users could move ahead only after confirming they were not German residents. Finance Magnates did not test whether later checks would stop the process.
Binance, BingX, HTX and Bitfinex Diverge
BingX said on June 16 that it had filed for CASP authorisation with Austria’s FMA and that the process was at an advanced stage, but not yet approved. Among the platforms tested, BingX had the toughest sign-up flow. Finance Magnates could not continue registration from an EU IP, and no clear workaround appeared.
HTX and Bitfinex had not publicly commented on their MiCA application status or plans for EU users. Finance Magnates said both platforms still allowed access to the sign-up process. Their published restricted-jurisdictions lists also continued to omit EU member states.
Overall, the MiCA unlicensed exchanges test found no common approach after the July 1 deadline.
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