Binance withdraws Greece-filed MiCA application
Binance said it plans to seek authorization in another EU jurisdiction just days ahead of the July 1 MiCA deadline, as unlicensed crypto firms are expected to wind down activities in the bloc.
Binance has withdrawn its MiCA (Markets in Crypto-Assets) license application filed in Greece, the exchange confirmed, just days before the regulation's July 1 compliance deadline. The world's largest cryptocurrency exchange by trading volume stated it intends to seek authorization in an alternative European Union jurisdiction, though no specific country has been named at this stage.
MiCA, the EU's landmark crypto regulatory framework, requires digital asset service providers operating within the bloc to obtain proper licensing or face mandatory wind-downs of their European operations. The July 1 deadline marks a critical threshold, after which unlicensed firms are expected to cease activities across EU member states. Greece had been identified as Binance's chosen base for its European regulatory footprint, making the withdrawal a notable shift in strategy.
The development raises questions about Binance's operational continuity in one of the world's largest regulated crypto markets. With the deadline imminent, the exchange faces a narrowing window to secure authorization through another national regulator. Other major crypto firms have already begun establishing licensed entities across EU jurisdictions, including Ireland, France, and the Netherlands, to maintain uninterrupted access to European customers.
Market observers will be watching closely to see which EU member state Binance ultimately targets for its MiCA application, and whether the exchange can secure interim authorization arrangements to avoid service disruptions for its European user base ahead of and following the deadline.
Source: Cointelegraph
