15.10.2026 18:32
With the end of the transition period in the European Union's MiCA regulation for crypto asset markets, licensing became mandatory for exchanges. Following giants such as Coinbase, Kraken, OKX and Crypto.com, BingX also joined the companies authorized in the European market by obtaining an operating license from Austria. Meanwhile, Binance, one of the world's largest cryptocurrency exchanges, has not yet obtained a license, and uncertainty continues regarding its operations in Europe.
After the transition periods under the European Union’s crypto asset regulation MiCA expired, the list of exchanges licensed to operate in Europe continues to grow. The Austrian Financial Market Authority (FMA) has granted BingX’s European unit a crypto asset service provider license. Binance, however, has still not obtained a license in Europe.
THE TRANSITION PERIOD HAS ENDED, AUTHORIZATION HAS BECOME MANDATORY
Under MiCA, which entered into force in 2024, the transition periods granted by countries ended in the summer of 2026. After that date, obtaining authorization from a member state regulator became mandatory in order to provide crypto asset services in the European Economic Area. Authorization obtained from a single country can be used in all 29 countries through the “passport” mechanism.
According to registry data from the European Securities and Markets Authority (ESMA), Coinbase has been authorized in Luxembourg, OKX and Crypto.com in Malta, and Kraken in Ireland. Bybit, Bitpanda, and KuCoin have been authorized in Austria.
Binance tops those left outside. At the end of June, the company withdrew its application in Greece and announced that it would suspend its services in some EU countries, led by France. As of September 30, Binance is not listed as an authorized service provider in the ESMA registry. The Dutch market regulator AFM also issued a warning last year about MEXC operating without authorization.
THE LATEST AUTHORIZATION COMES FROM AUSTRIA
BingX was the latest addition to Austria’s list. Vienna-based MEGE zweite GmbH, operating under the name BingX EU, was authorized on October 13. The company announced the decision on October 14. The company had announced its application on June 16. In other words, the authorization came about three and a half months after the end of the transition period.
The authorization covers four services:
- Custody of crypto assets,
- Exchange between crypto assets and fiat currency,
- Exchange between crypto assets,
- Transfer on behalf of customers.
Derivative products such as futures, however, are not automatically included in the authorization, as they may be subject to separate financial services legislation. The company has not yet announced when it will begin providing services in Europe or which products it will offer. As of mid-October, it was reported that it was also not listed in the ESMA registry.
THE LICENSE IS LIMITED TO ITS SCOPE
A MiCA authorization covers only the company’s services within the scope of the authorization and only its activities in the European Economic Area. Providing crypto asset services in Turkey, however, is subject to authorization from the Capital Markets Board (SPK) under Law No. 7518.
This content has been prepared for general informational purposes and does not constitute investment advice.