Binance Withdraws Greek Regulatory Application as It Reworks European Strategy

The European Union’s Markets in Crypto-Assets Regulation, or MiCA, establishes uniform licensing and operating standards for crypto companies. Exchanges must obtain a license issued by an EU member state to continue serving customers in the bloc. Binance’s failure to secure authorization before the end of the transition period makes it one of the first major companies to undertake significant business changes following MiCA’s implementation.

Binance told EU users it would restrict new registrations and some existing services from July 1 because it had not yet obtained a MiCA license. The platform will instead seek authorization in France. Affected customers will still be able to access their accounts and withdraw assets as usual, but other trading functions and services will be gradually scaled back in line with regulatory requirements.

The European Union’s Markets in Crypto-Assets Regulation, or MiCA, has applied in full since December 30, 2024. Once an exchange secures authorization from a single member state, it can operate across all 27 EU countries. Binance chose to apply for a license from the Hellenic Capital Market Commission, making the review’s outcome critical to its European market strategy.

Media reports had said the Greek regulator might reject Binance’s application. Binance responded that its application process had been confirmed as compliant, while the Hellenic Capital Market Commission did not comment at the time. However, the latest reports say Binance has withdrawn the MiCA application it filed in Greece. The company has yet to officially clarify whether it will apply in another member state.