The cryptocurrency exchange must establish a base in the EU by July 1, or regulators will mandate the cessation of operations affecting millions of users in the region.
By Olivier Acuna|Edited by Cheyenne LigonUpdated Jun 24, 2026, 5:27 p.m. Published Jun 24, 2026, 5:18 p.m. 2 min readMake preferred on ShareShare this articleCopy linkX (Twitter)LinkedInFacebookEmailMake preferred on The European Securities and Markets Authority (ESMA) is set to take over regulatory oversight across the EU. (Gecina/Wikimedia Commons)SummaryShow- Binance has retracted its application for a Markets in Crypto-Assets license in Greece and will pursue authorization in a different EU country.
- This decision comes shortly before the July 1 MiCA deadline, which necessitates that crypto companies hold a license in at least one EU member state or cease operations in the bloc.
- Regulators from Greece, Ireland, and Latvia had expressed concerns about Binance’s previous legal issues and its corporate structure, while the firm maintains that user funds are protected and will inform affected European clients prior to the deadline.
Binance has opted to withdraw its application for a Markets in Crypto-Assets (MiCA) license in Greece, indicating plans to seek authorization in another EU nation, as announced on Wednesday through multiple posts on X.
Although Binance did not respond immediately to CoinDesk's inquiry, Gillian Lynch, the head of Europe and the UK, stated to Reuters that "Binance is not leaving Europe." This remark comes after the company's attempt to obtain a license in Greece faced setbacks.
Last week, Binance claimed that its MiCA application for European regulations was compliant, despite reports of a rejection from Greek authorities. A Binance representative told CoinDesk via email on June 16, "Our understanding is that the HCMC (Hellenic Capital Market Commission) completed its review of the application and found it compliant with MiCA standards, and that it was also reviewed at the ESMA level."
The timing of this decision is critical, as the June 30 deadline approaches. MiCA regulations stipulate that crypto firms must secure a license from at least one EU member state by July 1 to continue serving clients across the 27-nation EU. Firms without a license must cease their operations in Europe.
"We made this decision after careful consideration of the current status and timeline of the Greek process," Binance stated. "Europe remains a vital market for Binance... We are optimistic about obtaining a license in the months to come."
This withdrawal follows reports that Greek regulators were likely to reject the application. According to Reuters, officials from Greece, Ireland, and Latvia had been monitoring the application due to concerns regarding Binance's past legal challenges and corporate structure.
Binance assured that user funds are secure and that it will directly notify affected European users about changes to their accounts before the compliance deadline. The company has not disclosed which EU nation it will target next for its license application.
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CEX Volumes Drop to Lowest Since September 2024 as RWA Perps Hit Record High
CEX Volumes Drop to Lowest Since September 2024 as RWA Perps Hit Record High
In May, combined exchange volumes fell 3.45% to $4.41T; the lowest since September 2024. RWA perpetual futures volumes rose 10.4% against the trend, hitting a new all-time high.
By CoinDesk ResearchJun 15, 2026In May, combined exchange volumes fell 3.45% to $4.41T; the lowest since September 2024. RWA perpetual futures volumes rose 10.4% against the trend, hitting a new all-time high.
Why it matters:
In May, combined exchange volumes fell 3.45% to $4.41T; the lowest since September 2024. RWA perpetual futures volumes rose 10.4% against the trend, hitting a new all-time high.
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