On June 24, Binance withdrew its application for a MiCA license in Greece. The exchange plans to seek authorization in another EU country, though it has not disclosed which jurisdiction, according to a blog post by the trading platform.
The application was under review by the Hellenic Capital Market Commission, but no formal decision had been made.
“Europe remains a key market for Binance. We are still committed to operating under a transparent, fair, and harmonized MiCA framework. Our plans for growth in the region remain unchanged, and we are confident we will secure a license in the coming months,” the exchange stated on X.
The withdrawal followed a Reuters report. On June 16, the agency, citing sources, reported that the Greek regulator was preparing to reject Binance’s documents. The exchange disputed this information at the time.
MiCA applies to all crypto companies operating in the EU. A license obtained from one national regulator grants access to all 27 countries in the bloc through a passporting mechanism. Binance’s competitors, such as Coinbase and Kraken, have already received authorization. According to analysts, only a small fraction of the approximately 3,000 firms previously operating in the region have obtained licenses, and up to 75% of platforms may close or exit the EU market.
Previously, ForkLog analyzed what the European crypto market can expect after the full implementation of MiCA, including the fate of USDT, exchange licensing, and potential impacts on liquidity.
