Binance Withdraws MiCA License Application in Greece, Seeks Alternative EU Jurisdiction

Binance has decided to withdraw its Markets in Crypto-Assets (MiCA) license application with the Hellenic Capital Market Commission (HCMC) in Greece, according to an official announcement. The exchange will instead seek authorization in another EU member state, with CEO Richard Teng stating that the company is committed to securing a MiCA license in the coming months.

Gillian Lynch, Binance’s head of Europe and the United Kingdom, told Reuters earlier this week that the firm may no longer pursue a license through Greece and look for alternatives. In its statement, Binance emphasized that Europe remains an important region and that its ambition to operate under a clear, fair, and harmonized MiCA framework is unchanged.

“We made this decision after careful consideration of the status and the timeline of the process in Greece, with our users’ interests at the center,” Binance said. The exchange expressed confidence in achieving full compliance and stressed that serving local users and building for the long term in the region continues to be a priority.

Binance encouraged users to monitor their email and in-app notifications for updates, review any communications from the exchange, and contact customer support with questions. The company also warned users to be cautious of scams, noting that it will never contact users by phone or ask for passwords, 2FA codes, or private keys.

CEO Richard Teng stated that Binance aims to secure a MiCA license in the next few months while providing clarity, minimizing disruption, and keeping users informed directly.

The announcement sparked mixed reactions on social media. Some criticized Binance for not acting quickly enough, noting that the exchange had a year and a half to comply with EU rules. Others criticized the choice of Greece, calling it the slowest EU member state with notoriously lengthy administrative procedures. Some users expressed panic and vowed to leave Binance for rival platforms like Coinbase, which recently designated Luxembourg as its MiCA home, or Kraken, which already has EU permission.

Binance reassured users that their assets remain safe and accessible at all times, and that handling the regulatory issue is one of its main responsibilities.

Source: https://cryptopotato.com/breaking-binance-news-affecting-european-clients/