How a Ukrainian in the EU Can Cash Out Crypto to Euros: MiCA-Licensed Exchanges and SEPA Withdrawals

In Brief

• As of July 1, 2026, the full MiCA regime is in force in the EU. Binance did not obtain a license: in June 2026, the exchange withdrew its application in Greece and restricted new services for EU clients.
• In the ESMA register as of September 2026, there are OKX, Bybit EU, Kraken, Coinbase, Bitstamp, Bitvavo, Bitpanda, Crypto.com, Gemini, KuCoin EU, Gate, and Ukraine’s WhiteBIT (via Austria).
• To withdraw crypto into euros, sell it on a licensed exchange and withdraw the euros via SEPA to an account in your name.
• EU banks check incoming transfers from exchanges. Keep your trade history and statements handy, and make your first withdrawal a small one.
• If you are a tax resident of an EU country, the exchange will report your transaction data to the tax authorities under DAC8.

For Ukrainians in Poland, Germany, the Czech Republic, and other EU countries, 2026 changed the familiar routine. Binance, which many people used to buy and sell USDT, no longer opens new services for clients from the EU, and banks are scrutinizing transfers from exchanges more closely. Below, you’ll find which platforms operate legally, how to withdraw euros step by step, and how to avoid having your account frozen.

What changed after July 1, 2026

MiCA regulations require crypto service providers working with clients from the EU to obtain a license in one of the Union’s countries. The transitional period ended on July 1, 2026. After that:

• a licensed exchange can serve clients in all EEA countries under a “passport”;
• exchanges without a license must wind down services for clients from the EU;
• clients of licensed platforms have protection under MiCA: for example, the custodian must compensate for assets lost through its fault.

Binance does not have a MiCA license. Details are in our analysis of which exchanges are leaving the EU from July 1.

Exchanges with a MiCA license

Data from the ESMA register as of September 7, 2026, based on the summary by MICA Watch. Bitget and Binance were not found in the register. Before registering, make sure you are opening an account specifically with the exchange’s European company.

“A broker” sells and buys cryptocurrency for the client using its own funds, while “a trading platform” maintains an order book where clients trade with each other. Both options are suitable for withdrawing in euros, but on a platform with an order book, the rate is usually better for large amounts.

How to choose an exchange for withdrawals in euros

• Whether the exchange accepts your status. Registration usually requires a document confirming your right to reside in an EU country: a residence permit or a temporary protection document. Check the list of accepted documents before transferring funds.
• Whether SEPA withdrawals are available. In the fiat transactions section, look for EUR withdrawals to a bank account.
• Fees. Compare the fee for selling (spread or trading fee) and the fee for withdrawing EUR. With large amounts, the difference is noticeable.
• Support for the required coins and networks. Make sure the exchange accepts your USDT or USDC on the required network. In the EU, some stablecoins without MiCA authorization are restricted for trading.
• Limits. New accounts often have withdrawal restrictions until enhanced verification is completed.

How to withdraw euros via SEPA: step by step

1. Register on a MiCA-licensed exchange and complete KYC. Use a document proving your right of residence in the EU and proof of address.
2. Link a bank account in your own name. The account holder’s name must match the name on the exchange account. Exchanges do not process transfers to third-party accounts.
3. Transfer cryptocurrency to the exchange. First send a small test amount, then the main amount. The network in your wallet and on the exchange must match. If you made a mistake, read the guide sent USDT to the wrong network.
4. Sell the cryptocurrency for EUR. Use conversion or spot trading. Check the final amount after fees.
5. Withdraw EUR via SEPA. Make the first withdrawal a small one to ensure that your bank accepts the payment without issues.
6. Wait for the funds to arrive. A standard SEPA transfer usually arrives by the end of the next business day, while SEPA Instant takes seconds. If the transfer is delayed, see the guide SEPA transfer did not arrive.
7. Keep the confirmations. A statement confirming the sale and withdrawal will be needed for the bank and the tax authorities.

How to avoid getting your account blocked at an EU bank

• Notify your bank about large incoming transfers, if the bank follows this practice. Explain that you are selling your own cryptocurrency.
• Prepare a record of the source of funds. Where and when you bought the cryptocurrency, and how much you paid. Exchange statements and P2P orders are the main proof.
• Do not split amounts or move money through transit accounts. Money that arrives from an exchange and is immediately sent elsewhere looks suspicious.
• Use an account that you actually use for everyday life. An account opened “for the exchange” raises more questions.
• Respond to the bank’s request quickly and thoroughly. We covered what to do in case of a freeze using Wise as an example. If you need an account with a reliable neobank, see the guide on how a Ukrainian citizen can open an account with N26.

How to transfer assets from Binance

1. Register and complete KYC on the selected MiCA-licensed exchange.
2. Check which coins and networks it accepts.
3. Withdraw a small test amount from Binance first, then the main amount.
4. Disable any API keys and subscriptions on Binance that you no longer use, and export your trading history — you will need it for taxes.

Risks

• Registration may fail. Exchanges have different document requirements. If your status in the EU is temporary, clarify the conditions in advance.
• The bank may ask for proof of source of funds. Without a transaction history, this may result in your account being frozen.
• Taxes. If you are a tax resident of an EU country, the exchange will share data about your transactions with the tax authorities under DAC8. To learn what to enter in the exchange’s tax details, read the guide DAC8: the exchange requires a tax number.
• The register changes. Licenses are issued and revoked. Before registering, check the current ESMA register.

FAQ

Can a Ukrainian in the EU use Binance after July 1, 2026?

Binance does not have a MiCA license, and from July 1, 2026, the exchange has restricted new services for clients from the EU. For buying, selling, and withdrawing in euros, it is more reliable to use an exchange with a MiCA license.

Which exchanges have a MiCA license?

According to the ESMA register as of September 2026, European companies OKX, Bybit, Kraken, Coinbase, Bitstamp, Bitvavo, Bitpanda, Crypto.com, Gemini, KuCoin, Gate, and WhiteBIT hold licenses. Before registering, check the current register.

How quickly do euros arrive via SEPA from an exchange?

A standard SEPA transfer is credited by the end of the next business day after the debit, while SEPA Instant arrives within seconds if it is supported by the exchange and your bank.

Is it possible to withdraw euros to another person’s account?

No. Exchanges withdraw fiat only to an account in the account holder’s name. The name at the bank and on the exchange must match.

Will the bank block an account for incoming transfers from a crypto exchange?

May request proof of the source of funds, especially for large or frequent incoming transfers. If you have a history of cryptocurrency purchases and exchange statements, the issue is usually resolved with documents.

Do you need to pay tax when selling crypto in the EU?

In most EU countries, profits from the sale of cryptocurrency are subject to tax. The rules depend on the country of your tax residency. Starting in 2026, exchanges will report data on EU residents’ transactions to tax authorities under DAC8.