Cryptocurrency exchange Binance said Thursday it will suspend services in several European countries from next week as it has been unable secure regulatory approval to operate in the European Union. 

Binance, the world’s largest cryptocurrency exchange by volume, said it had applied for authorisation to operate under the EU’s crypto assets regulation MiCA in Greece, but told clients that it has now withdrawn that application and would apply in another EU country.

MiCA imposes a common framework in the EU in terms of investor protections and anti-money laundering measures regarding the trading of crypto assets in the…