Binance Drops Greece MiCA License, Targets New EU Market

Binance pulled its application for a MiCA license in Greece and will try to get approved in another European Union country, the exchange said Wednesday.

The decision comes ahead of the EU's July 1 compliance deadline. Crypto firms that do not hold a license from at least one member state by then must stop offering services across the bloc.

Gillian Lynch, Binance's head of Europe and the UK, told Reuters the company is "not leaving Europe." The comment signals the exchange intends to secure a MiCA license elsewhere rather than exit the region.

Reuters reported that Greek regulators – along with authorities in Ireland and Latvia – had raised concerns about Binance's past legal issues and corporate structure. Days before the withdrawal, Binance had maintained that its application met regulatory standards. A company spokesperson had said the Hellenic Capital Market Commission completed its review and considered the submission compliant with MiCA requirements, and that the European Securities and Markets Authority also examined it.

Binance said the withdrawal followed "careful consideration" of the status and timeline of the Greek approval process. It expressed confidence it would secure a MiCA license in another EU jurisdiction within months. The exchange did not disclose which country it will target next.

Customer funds remain secure, Binance said. It will contact affected European clients about any account changes before the regulatory deadline.

A Binance spokesperson declined to name the next EU country. The July 1 deadline leaves roughly four months for the exchange to finalize a new application somewhere in the bloc.