Binance Withdraws MiCA License Application in Greece, Seeks EU Authorization in Another Member State

Binance withdrew its MiCA license application submitted to the Greek financial regulator, the HCMC, on Wednesday, June 25, and said it would seek authorization in another EU member state without naming which one.

The move came seven days after a Reuters article cited two sources close to the matter saying the HCMC was about to reject the file, and it landed as MiCA is fully effective starting December 30, 2024.

Bitcoin World

Under MiCA, any platform wishing to operate in the 27 Member States must obtain national approval before July 1, 2026, after which non-approved actors face suspension of their services throughout the Union.

Binance said in a statement that it “worked constructively and in good faith” with the Greek regulator while moving “forward” in a manner favorable to its users, and it said it is “contacting all its European users” about possible required actions, options, and deadlines.

Binance told users it would take steps before 1 July to remain compliant with applicable requirements, adding that “This means some users may be impacted” and that it would communicate directly with affected users about next steps.

In its own statement, Binance said it is “in the process of contacting all of our EU users,” and those communications would explain whether any action is required, what options may be available, and relevant timelines.

bloomingbit

Reuters earlier reported that Binance’s MiCA license application in Greece could be rejected, and the Decrypt account said the firm’s announcement came one week after that Reuters report.

CoinDesk reported that Gillian Lynch, head of Europe and the United Kingdom, told Reuters that “Binance is not leaving Europe,” after Binance’s bid to secure a licence in Greece “went sour.”

Binance said it would seek authorization in another EU member state, but the country remained undisclosed in the sources, with Cointribune noting the platform “has not identified the country where it plans to submit its next application.”

“Binance has withdrawn its application for a Markets in Crypto-Assets (MiCA) license in Greece and will seek authorization in another European Union country, the crypto exchangesaid Wednesday via several X posts”

CoinDesk

The Defiant reported that Binance held talks with regulators in Ireland and Latvia as well as Greece, while formally applying only in Greece, and it framed the withdrawal as happening with “seven days before the bloc's regulatory wind-down deadline takes effect.”

CoinDesk said Binance did not name which EU country it will approach next, even as it described a June 30 deadline and said MiCA rules require crypto firms to obtain a license from at least one EU member state by July 1 to serve clients across the 27-nation trading bloc.

In parallel, Cointelegraph reported that Binance’s licensing difficulties could affect token issuers preparing MiCA white papers for assets they list, and it quoted Ryan King saying the model was “symbiotic” because exchanges employ MiCA-trained compliance teams and retain large law firms.