Denmark based CASP4.8/5The MiCA-licensed Binance alternative for Europe and Denmark
Binance stopped serving new EU customers on 1 July 2026 after failing to secure a MiCA licence. Penning is a Danish FSA–licensed CASP you can switch to today — DKK and EUR in and out, crypto delivered to a wallet you control, and onboarding with MitID in about five minutes.
Update — July 2026
No — Binance is not MiCA licensed, and it stopped serving new EU customers on 1 July 2026. Penning is a Danish FSA–licensed CASP you can switch to today — DKK rails and crypto delivered to a wallet you control.
Sources: CoinDesk, 26 Jun 2026 · Euronews, 25 Jun 2026
Penning vs Binance — feature by feature
Binance is based in Global (no EU/EEA MiCA authorisation). The comparison below reflects published information about each platform's product offering.
| Penning | Binance | |
|---|---|---|
| EU authorisation (MiCA) | CASP authorised by the Danish FSA (FTID 10902) on 15/01/2026 — passportable across the EU/EEA | No MiCA licence in any EU/EEA state; withdrew its Greek application on 24/06/2026 and is not in the ESMA CASP registerSource: ESMA CASP register + CoinDesk · checked 25 Jul 2026 |
| EU service status (July 2026) | Fully operating across the EU/EEA | New sign-ups, deposits, spot trading and Earn suspended for EU/EEA customers from 01/07/2026; withdrawals remain openSource: Binance customer notice, via CoinDesk / Euronews · checked 25 Jul 2026 |
| Who holds your crypto | Not held — delivered to a wallet you control on every trade | Custodial — assets held in Binance’s own (omnibus) wallets; you hold an account balance, not the keysSource: Binance product model; CoinGecko exchange profile · checked 25 Jul 2026 |
| Fiat rails | DKK via a Danish bank + EUR via SEPA | EUR via SEPA (historically subject to banking-partner disruptions); DKK is not a native deposit or withdrawal railSource: Binance fiat support pages · checked 25 Jul 2026 |
| Pricing model | One transparent fee shown before you trade; no monthly fee | 0.1% headline spot fee, but the retail Convert / one-click buy flow prices in a spread, and card purchases cost moreSource: Binance fee schedule; Coin Bureau review · checked 25 Jul 2026 |
| Onboarding | MitID — typically about 5 minutes | Closed to new EU/EEA registrations since 01/07/2026Source: Binance customer notice · checked 25 Jul 2026 |
| Assets | 190+ assets, delivered to your own wallet on 28+ chains | 400+ assets — its genuine strength — but unavailable to buy for EU customers since 01/07/2026Source: CoinGecko exchange profile · checked 25 Jul 2026 |
| Portfolio management | The only Danish CASP authorised for MiCA service (i); offered as Penning Invest, FSA-supervised | Earn / savings products (suspended for EU retail); no FSA-supervised managed strategySource: ESMA CASP register · checked 25 Jul 2026 |
| Danish tax records | A complete transaction record to support your own SKAT filing | Generic export, not SKAT-formatted; users rely on third-party tools such as Koinly or DivlySource: Divly Binance/SKAT guide · checked 25 Jul 2026 |
| Support | Danish support on weekdays | Global support, English-firstSource: binance.com support · checked 25 Jul 2026 |
Why switch from Binance?
Licensed in Denmark, not locked out
Binance has no MiCA licence and stopped serving new EU customers on 1 July 2026. Penning is authorised by the Danish FSA (FTID 10902) and listed in the ESMA register — you can look it up yourself.
Your keys, your crypto
Binance holds your assets in its own wallets. Penning is non-custodial — every asset is delivered to a wallet you control on every trade.
One clear fee, funded in kroner
Binance’s 0.1% is the order-book rate; the retail buy flow adds a spread, and funding in EUR stacks a DKK-to-EUR conversion on top. Penning shows one fee before you trade, straight from your Danish bank.
Not a one-off
Binance was fined and exited the Netherlands, withdrew its German licence application, was ordered to cease in Belgium, and settled US anti-money-laundering and sanctions charges for $4.3bn in 2023.
Sources: US DOJ, Nov 2023 · CoinDesk, Jul 2023
How to switch from Binance to Penning
Binance withdrawals remain open, so you can move at your own pace. Here’s the safe order to do it in.
Before you move: Binance delisted the EEA spot pairs for non-MiCA stablecoins (USDT, DAI, FDUSD, TUSD, USDP) in March 2025, leaving USDC, EURI and euro. You can still withdraw them, but convert a non-MiCA stablecoin to euro or a supported asset first.
Sources: The Block, Mar 2025
Export your Binance transaction history
Download your full trade and transaction history while you still have access — you’ll need it for your Danish tax return, and Binance provides no SKAT-ready report.
Set up a wallet you control
Penning delivers crypto to your own wallet rather than holding it for you, so have a wallet ready (or use one you already own).
Confirm the network before you withdraw
For each coin, check that the network Binance is sending on matches where you want it — sending on the wrong network can lose the funds.
Mind the memo or destination tag
Assets like XRP, XLM, ATOM and TON need a memo or destination tag on the transfer. Leaving it out can lose the transaction.
Make a small test transfer first
Send a small amount, confirm it arrives, then move the rest.
Open your Penning account with MitID
It takes about five minutes. Penning is MiCA-licensed by the Danish FSA, with DKK and EUR in and out.
Buy and sell through Penning going forward
Fund in DKK from your Danish bank, trade at a transparent fee, and every asset is delivered to your own wallet — with a complete record for your SKAT filing.
Who Penning is a good fit for
Penning fits if you want to keep investing in the EU legally after Binance — with a Danish, FSA-supervised counterparty you can verify in a public register, DKK in and out of your own bank, crypto delivered to a wallet you control, and the option of a managed strategy from the only Danish CASP authorised for portfolio management. Binance still leads on raw asset breadth, liquidity and headline trading fees — but as an EU customer you can no longer buy or trade there.
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Ready to try Penning?
Open a free Penning account in minutes. MiCA-licensed in Denmark, crypto delivered to your own wallet, no monthly fees.