Binance must secure a base in the EU by July 1 to avoid halting operations affecting millions of users.
Binance has officially pulled its application for a Markets in Crypto-Assets (MiCA) license in Greece, opting instead to seek authorization in another EU country. This decision comes as the July 1 deadline approaches, which mandates crypto firms to hold a license from at least one EU member state or halt operations within the region.
Despite the setback in Greece, Gillian Lynch, Binance's head of Europe and the UK, reassured that "Binance is not leaving Europe." The company had previously claimed its MiCA application was compliant, though reports suggested it faced rejection from Greek regulators due to concerns over its corporate structure and prior legal issues.
As the June 30 deadline nears, Binance stated that the choice to withdraw was made after careful evaluation of the ongoing process in Greece. They emphasized the importance of the European market, expressing optimism about securing a license in a different EU nation in the near future.
