Binance Seeks New EU License After Withdrawing MiCA Application in Greece

Binance is seeking a new European Union licensing route after withdrawing its Markets in Crypto-Assets Regulation (MiCA) application with the Hellenic Capital Market Commission (HCMC) in Greece, according to a June 24 company statement.

MiCA establishes a unified EU rulebook for crypto-asset service providers, replacing fragmented national frameworks. The European Securities and Markets Authority (ESMA) framework includes standards covering authorization, investor protection, record keeping, and supervision.

The exchange said it withdrew the Greek application after reviewing the process timeline and determining that moving forward elsewhere would provide greater clarity for users as the MiCA transition period nears its end. Binance emphasized: “While we withdrew our application in Greece, Binance remains committed to Europe.”

The crypto platform said it engaged constructively with the HCMC over several months before deciding to pursue authorization in another EU member state, which it will announce at a later stage. User assets remain safe and accessible, although some EU users may be affected depending on their location and account status.

European regulators have tightened expectations for crypto firms operating without full authorization ahead of the MiCA deadline. ESMA has instructed such platforms to prepare wind-down plans, halt new client onboarding, and clearly communicate with users if licensing is not secured.

Binance reiterated its long-term commitment to Europe and its intention to operate under the MiCA framework, emphasizing: “Europe is an important region for Binance, and our ambition to operate under a clear, fair, and harmonized MiCA framework remains unchanged.”

The company also highlighted investment in compliance and internal controls, with around 1,500 compliance staff employed. EU users are currently being contacted directly with account-specific updates and guidance, with instructions to monitor official communications and remain cautious of scams.

Source: https://news.bitcoin.com/binance-races-for-new-eu-license-route-ahead-of-july-1-mica-deadline/