Binance Abandons Greek Bid for MiCA License

Binance has pulled its application for a Markets in Crypto-Assets license from Greek authorities and plans to pursue approval in a different EU member state instead.

Binance pulls Greek MiCA application days before deadline. The exchange disclosed the step on Wednesday in multiple posts on X. Officials must obtain a license somewhere in the bloc by July 1 or regulators will require them to halt services for users across the region.

MiCA regulations stipulate that any unlicensed operator has to terminate its activities in the 27-nation area after that cutoff. Binance noted it reached the choice following a review of how matters stood and the Greek timeline.

Regulators in multiple countries raised concerns. Authorities in Greece, Ireland and Latvia had reportedly expressed worries over Binance’s earlier legal troubles and its organizational setup. Reuters indicated that supervisors from those three nations monitored the filing together.

The prior week Binance maintained that its MiCA filing met standards even after accounts of a Greek rebuff. A company spokesman informed CoinDesk by email on June 16 that the Hellenic Capital Market Commission finished its examination, judged the submission compliant with MiCA requirements, and that ESMA had also assessed it.

Binance commits to staying in Europe. Gillian Lynch, head of Europe and the United Kingdom, told Reuters that "Binance is not leaving Europe." The firm added that the continent continues to matter greatly and expressed confidence about winning approval within months.

Binance declined to identify its next target EU jurisdiction. The European Securities and Markets Authority is about to take over regulatory oversight across the EU.

Company reassures users on funds and communications. Binance stated that user funds remain safe. It will communicate directly with affected European users regarding changes to their accounts before the compliance deadline.