Binance Withdraws MiCA License Application in Greece, Will Seek Authorization in Different EU Member State

Binance has withdrawn its MiCA license application in Greece just days before the EU's July 1 deadline, citing regulatory delays. The crypto exchange will seek authorization in another EU state, vowing to remain in Europe. However, reports suggest resistance from regulators in Greece, Ireland, and Latvia over past legal issues. The move leaves Binance's EU operations uncertain and may impact some users, while competitors like Kraken and Coinbase have already secured licenses.

Binance MiCA application withdrawal

• ▪Binance stated it withdrew its Greek application because the process failed to reach a decision before the MiCA deadline
• ▪Binance has officially withdrawn its Markets in Crypto-Assets (MiCA) license application from Greece's Hellenic Capital Market Commission (HCMC)
• ▪Binance will seek MiCA authorization in a different, currently undisclosed EU member state
• ▪Binance CEO Richard Teng and Head of Europe Gillian Lynch affirmed the company is not leaving the European market

EU regulatory resistance

• ▪On June 16, 2026, Binance stated that the Greek regulator (HCMC) had considered its application compliant, pending further review by ESMA
• ▪Reports indicated that regulators in Greece, Ireland, and Latvia raised concerns over Binance's past money-laundering penalties and corporate structure
• ▪Binance held talks with regulators in Ireland and Latvia but only submitted a formal MiCA application in Greece

MiCA deadline compliance impact

• ▪Binance has stated that some of its European users may be impacted by the license withdrawal, depending on their country and account status
• ▪A MiCA license approved in one EU nation can be "passported," allowing a firm to operate across all 27 member states
• ▪The transitional period for the EU's Markets in Crypto-Assets (MiCA) regulation ends on July 1, 2026
• ▪After the July 1 deadline, unauthorized crypto firms must wind down EU operations, including halting the onboarding of new clients
• ▪Binance CEO Richard Teng stated that customer funds "remain safe and secure."

European market share analysis

• ▪In 2026, Binance held an estimated 18.5% share of euro-denominated spot trading, second to Kraken's 43.3% share
• ▪Euro-denominated pairs account for about 1% of Binance's global spot trading volume
• ▪Competitors including Coinbase, Kraken, OKX, and Bitvavo have successfully obtained MiCA licenses