Binance Drops Greek License Bid, Faces EU Exit by July 1

Binance is the world's largest crypto exchange by volume, founded by Changpeng Zhao in 2017. The company pleaded guilty to money laundering charges in 2023 and paid over $4.3 billion in U.S. fines. Zhao served a prison sentence in 2024 and received a pardon from President Donald Trump in 2025. French prosecutors opened a formal inquiry into Binance last year over potential money laundering; the exchange denies the allegations. The U.K. has banned Binance since 2021.

The July 1 deadline is the hard stop under the Markets in Crypto-Assets Regulation, which requires all digital asset firms operating in the EU to hold a MiCA license. Non-compliance carries penalties. Binance said it remains committed to European markets and supports MiCA's goal of uniform crypto rules across the bloc.

For traders holding assets on Binance in the affected countries, the immediate question is whether the exchange secures French approval before the cutoff or whether withdrawals become the only option. The company has not specified which jurisdiction it is targeting beyond France, nor given a timeline for when users should expect a resolution.