Binance Nears EU MiCA License After States Invite Application

Binance is moving closer to a European Union foothold after several EU member states invited the exchange to apply for a new license under the Markets in Crypto-Assets (MiCA) framework, Co-CEO Richard Teng said at the Reuters NEXT Asia conference in Singapore on July 9.

Teng confirmed discussions with multiple EU countries are underway but declined to name the jurisdictions. The talks come after Binance withdrew its MiCA application in Greece following repeated regulatory delays. Despite earlier signals that approval was near, the exchange decided to abandon the Greek effort before the July 1 MiCA deadline to avoid a prolonged transition period, Teng said.

Binance had also pulled its MiCA licensing effort in France, narrowing its options for an EU operating base. The exchange reiterated on X that it remains committed to obtaining a harmonized MiCA license across Europe, calling the region a key strategic market.

While regulatory talks continue, Binance is accelerating its expansion across Asia. Teng highlighted the company's growing presence in the Philippines through a local entity and said several more Asian market launches are planned. Institutional adoption is also strengthening: professional clients now represent about 7% of the platform's user base, and institutional customers have grown 9% this year, according to Teng.

Only a limited number of crypto firms have secured MiCA licenses so far. Binance's success depends on which EU country it picks for its base and how quickly regulators move. A successful license would give the exchange a unified passport across the bloc, while further delays or a rejection could force Binance to rethink its European strategy. The next few months will show whether the talks yield a concrete outcome.