Binance Ends Greece License Bid with EU MiCA Deadline Days Away

Binance withdrew its application for a crypto license in Greece, the exchange confirmed, leaving one week before the European Union's Markets in Crypto-Assets regulation takes full effect.

The decision ends months of talks with the Hellenic Capital Market Commission that did not produce approval. Binance cited the prolonged review timeline for its documents.

The exchange plans to seek authorization in another EU member state instead. It has not named the country yet. Binance said it will announce the new jurisdiction once the process reaches a final stage.

The Greek withdrawal leaves Binance exactly one week to restructure its platform under MiCA standards. For European users, the shift means potential changes to terms of service or service restrictions starting July 1. Binance has started email campaigns and push notifications with step-by-step instructions for affected clients. The company's priority is minimizing disruption, it said.

"We understand that regulatory uncertainty can cause frustration for our European users," said Binance co-CEO Richard Teng. "We remain committed to obtaining a MiCA license in the coming months, ensuring transparency and informing clients directly. Your funds remain fully safe."

The withdrawal is the latest in a series of regulatory setbacks for the exchange, as covered in earlier analysis. MiCA, the EU's first comprehensive crypto framework, goes into full effect July 1. A license obtained in one member state allows passporting to others, making the unnamed jurisdiction critical for Binance's European operations.

Binance said it expects to secure a MiCA license in the coming months. The company's legal team is working to transfer documentation to the new unnamed jurisdiction. The July 1 deadline is fixed.