Key Insights:
- Binance filed a MiCA license application with the Greek regulatory body.
- France warns non-MiCA exchanges must stop operations after June.
- Greece has not yet issued its first MiCA crypto license.
As regulators in European Union member states tighten their oversight, Binance has applied for a MiCA license in Greece ahead of the EU’s compliance deadline.
Binance Files for MiCA Authorization in Greece
Binance has filed a formal application to receive a license under the European Union’s MiCA framework in Greece. The exchange confirmed that it is working directly with Greece’s financial regulator, the Hellenic Capital Market Commission (HCMC).
This move comes amid growing pressure from regulators across the EU to meet looming compliance deadlines. MiCA or Markets in Crypto-Assets Regulation focuses on establishing a common legal framework for digital assets in the European Union. The regulation is to take full effect by the middle of 2026, and transition periods are already closing in some member states.
Binance, the largest centralized crypto exchange by trading volume, has been flagged in several EU countries over its licensing status. The Greece filing is considered a vital step to secure its operations in Europe.
France Flags Binance Amid Licensing Push
Last week, France’s Autorité des Marchés Financiers (AMF) issued a notice that included Binance among 90 registered crypto firms that still do not have MiCA authorization. The AMF reminded all non-compliant companies that the transition period of France’s MiCA ends on June 30, 2026. After that, only MiCA-licensed platforms can operate.
This means Binance is required to either obtain a license in France or another EU country, for example, Greece, and use passporting rights to carry out business across borders. Passporting under MiCA means that a licensed firm based in one EU country can legally operate in all other EU countries without having to apply in each state.
According to CoinGecko, Binance handles almost $12 billion in daily trading volume. Maintaining access to European markets is critical to its business. If MiCA compliance fails, the platform faces operational shutdowns in several key markets.
Greece Lags Behind in MiCA Licensing Activity
Despite Binance’s application in Greece, the country has yet to issue its first MiCA license. Public data obtained from the European Securities and Markets Authority (ESMA) shows that no crypto-asset service provider (CASP) in Greece has been approved.
Germany currently leads in the number of issued licenses, with 43, followed by the Netherlands with 22. France has issued 11, while countries such as Belgium and Greece still have no active MiCA authorizations.
This lag introduces uncertainty into Binance’s application timeline. It remains to be seen how long it will take Greece’s HCMC to process the request, or whether the regulator will focus on Binance’s case ahead of the EU-wide deadline.
In the meantime, other institutions such as KBC Bank in Belgium are gearing up to offer crypto services, which is a signal of the mounting pressure across EU countries to wrap up MiCA licensing processes.
Binance Scrutiny Raises Compliance Questions
Binance has been the subject of regulatory scrutiny in Europe even before the implementation of MiCA. As early as 2021, a number of EU member states expressed concern about the exchange’s operations. These concerns were related to Binance’s alleged lack of transparency and unregistered status.
In 2023, Binance’s former CEO, Changpeng Zhao, pleaded guilty to money laundering charges in the United States. He served a prison sentence of four months. The case also brought additional global regulatory attention to Binance and heightened demands for greater enforcement in Europe.
Binance’s successful application in Greece could serve as a blueprint for other crypto firms navigating the EU’s evolving regulatory landscape. However, the window for approval is getting shorter as the month of July approaches.
Moses K is a crypto journalist covering markets, regulation, and blockchain trends. He has written for The Coin Republic, Coinchapter, Cryptopolitan, Cryptotale, Coinspeaker, and MPost. Known for his concise, data-driven reporting, Moses focuses on price analysis, on-chain metrics, and policy developments shaping the global digital asset landscape.
