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Binance Withdraws Greece MiCA Bid, EU Access Hangs on July 1 Deadline
Binance withdrew its Greek MiCA bid days before the July 1 EU deadline. The exchange says it will seek a license in another member state. Users face account changes before the compliance cutoff.
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Binance has pulled its application for a Markets in Crypto-Assets (MiCA) license in Greece and will seek authorization in another European Union country, the exchange said Wednesday in a series of X posts.
Gillian Lynch, head of Europe and the UK, told Reuters that "Binance is not leaving Europe." The statement follows the collapse of the firm's bid to secure a license in Greece, which would have allowed it to offer crypto services across the EU.
Last week, a Binance spokesman told CoinDesk the application was "considered compliant with MiCA requirements" after review by the Hellenic Capital Market Commission and the European Securities and Markets Authority. The withdrawal comes days before a June 30 deadline. Under MiCA rules, crypto firms must hold a license from at least one EU member state by July 1 to serve clients across the 27-nation bloc. Unlicensed firms must wind down their EU activities.