The cryptocurrency exchange has sent a notification to its clients. Binance was unable to obtain a MiCA license by the deadline. According to Reuters, regulators from different countries denied the license due to the company's ties to money laundering and its complex, risky international structure. Binance is suspending the registration of new users from the EU. However, existing clients will be able to transfer their assets to other wallets or cryptocurrency exchanges after July 1. The company also emphasized that restrictions vary depending on the jurisdiction. According to Defillama, the outflow of funds from Binance over the week amounted to $641 million — 0.48% of the $133 billion in assets on the exchange.