Summary
- Binance has withdrawn its application for a Markets in Crypto-Assets license in Greece and will seek authorization in another European Union country instead.
- The move comes just days before a July 1 MiCA deadline that requires crypto firms to hold a license in at least one EU member state or wind down operations across the bloc.
- Greek, Irish and Latvian regulators had reportedly raised concerns about Binance’s past legal issues and corporate structure, while the company says user funds are safe and it will update affected European customers before the deadline.
Binance has withdrawn its application for a Markets in Crypto-Assets (MiCA) license in Greece and will seek authorization in another European Union country, the crypto exchange stated Wednesday via several X posts.
While Binance did not immediately respond to CoinDesk’s request for comment, Gillian Lynch, head of Europe and the United Kingdom, told Reuters that “Binance is not leaving Europe.” Her comment follows her firm’s bid to secure a licence in Greece to offer crypto services in the EU went sour.
Last week, Binance stated its European regulatory MiCA application was compliant despite reports of Greek rejection. “Our understanding is that the HCMC (Hellenic Capital Market Commission) completed its review of the application and considered it compliant with MiCA requirements, and that the application was also reviewed at ESMA level,” a Binance spokesman told CoinDesk via email on June 16.
The decision comes days before a June 30 deadline. Under MiCA rules, crypto firms must obtain a license from at least one EU member state by July 1 to serve clients across the 27-nation trading bloc. Unlicensed firms must wind down their EU activities.
