Binance Withdraws Greece MiCA License Application, Eyes Another EU Market

Binance has officially withdrawn its application for a Markets in Crypto-Assets (MiCA) license in Greece and plans to pursue regulatory approval in another European Union member state, according to statements shared by the cryptocurrency exchange on Wednesday.

The move comes ahead of the European Union’s upcoming MiCA compliance deadline, which requires crypto companies to secure authorization from at least one EU country by July 1 in order to continue offering services across the 27-member bloc. Firms that fail to obtain a license may be forced to scale back or cease operations within the region.

Despite the withdrawal, Binance emphasized that its commitment to the European market remains unchanged. Gillian Lynch, Binance’s Head of Europe and the United Kingdom, told Reuters that the company is “not leaving Europe,” signaling that the exchange remains focused on securing a MiCA license elsewhere in the EU.

The decision follows recent reports suggesting that Greek regulators were preparing to reject Binance’s application. According to Reuters, authorities in Greece, Ireland, and Latvia reportedly reviewed the application and raised concerns related to Binance’s previous legal challenges and corporate structure.

Only days earlier, Binance maintained that its MiCA application met regulatory standards. A company spokesperson stated that the Hellenic Capital Market Commission (HCMC) had completed its review and considered the submission compliant with MiCA requirements, adding that the application was also examined at the European Securities and Markets Authority (ESMA) level.

In a statement, Binance said the withdrawal was made after “careful consideration” of the status and timeline of the approval process in Greece. The company expressed confidence that it will secure a MiCA license in another EU jurisdiction within the coming months.

Binance also reassured customers that user funds remain secure and confirmed it will communicate directly with affected European clients regarding any account-related changes before the regulatory deadline. However, the exchange has not yet disclosed which EU country it plans to target next for authorization.

As the MiCA framework reshapes crypto regulation across Europe, Binance’s next licensing move will be closely watched by the cryptocurrency industry and regulators alike.