Summary
- On Wednesday, Binance announced its official withdrawal of the Markets in Crypto Assets (MiCA) license application in Greece.
- The crypto exchange plans to pursue licensing in another EU member state that has yet to be disclosed.
- While some users may face impacts from this decision, Binance assured that all funds remain secure.
Binance, a leading cryptocurrency exchange, has officially withdrawn its application for a Markets in Crypto Assets (MiCA) license in Greece, as part of its efforts to comply with EU regulations, the company revealed on Wednesday.
This announcement follows a Reuters report from a week prior that suggested the Greek finance regulator, HCMC, was likely to reject Binance's application.
“Binance has decided to withdraw its MiCA licence application with the Hellenic Capital Market Commission (HCMC) in Greece and pursue authorization in another EU Member State,” the company stated on Wednesday.
They further mentioned that they had engaged positively and in good faith with the HCMC over several months, but due to the lack of a response before the July 1 deadline, they felt it necessary to “move forward” in a manner that favors their users.
In the meantime, we will take the necessary steps before 1 July to remain compliant with applicable requirements. This means some users may be impacted, and we will communicate directly with affected users to provide clear information on next steps.
— Binance (@binance) June 24, 2026
Companies aiming to legally offer crypto services within the European Union must secure a MiCA license by the July 1 deadline, or they risk having to halt operations in the area.
The outlook for Binance’s operations in Europe remains uncertain, but the exchange assured users on Wednesday that their funds are safe, although some users might be affected by the application withdrawal.
“We are in the process of contacting all of our EU users,” the company noted. “These communications will clarify whether any action is required, what options may be available, any relevant timelines, and where to seek support.”
Binance filed its application in Greece in January, choosing the country in part due to its recent economic development, as indicated by a spokesperson at that time.
Nonetheless, the firm emphasizes its long-term commitment to Europe, despite the challenges posed by the withdrawal of its application.
“While we withdrew our application in Greece, Binance remains committed to Europe,” the exchange asserted. “Europe is a significant region for Binance, and our goal to operate under a clear, fair, and harmonized MiCA framework remains unchanged.”
Once licensed in an EU country, Binance can extend its compliance to the other 27 member states. However, last year, French regulators expressed concerns about allowing “passporting,” which could restrict firms that achieved regulatory approval in less stringent EU nations.
A representative from Binance did not provide an immediate response to a request for comment from Decrypt.