According to BeInCrypto, as the EU Crypto Asset Market (MiCA) regulations are about to be implemented, Binance has suspended its copy trading services for European users. Binance has notified its European users to close copy trading positions and transfer funds back to spot wallets before June 27.
According to MiCA regulations, the new rules will take effect at the end of June, which will have a significant impact on the EU crypto market. At that time, unclosed positions will be automatically closed at market prices, and assets will be transferred to spot wallets.