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 from the trading platform.
The application was under review by the Hellenic Capital Market Commission, but no formal decision was made.
https://twitter.com/binance/status/2069791443213042012
“Europe remains one of Binance's key markets. We remain committed to operating under transparent, fair, and uniform MiCA regulations. Our plans for growth in the region remain unchanged, and we are confident we can obtain a license in the coming months,” the exchange stated on X.
The withdrawal followed a Reuters report on June 16, which cited sources indicating that the Greek regulator was preparing to reject Binance's documents. At that time, the exchange disputed this information.
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. Competitors of Binance, such as Coinbase and Kraken, have already secured authorization. Analysts estimate that only a small fraction of the approximately 3,000 firms that previously operated in the region have obtained licenses, and up to 75% of platforms may close or exit the EU market.
Previously, ForkLog examined what awaits the European crypto market following the full implementation of MiCA, including the fate of USDT, exchange licensing, and potential impacts on liquidity.