Greece set to reject Binance MiCA application, EU access at risk

Greek authorities are expected to reject Binance’s application for a Markets in Crypto‑Assets (MiCA) license, a decision that could force the crypto exchange to stop serving customers across the European Union when the MiCA transition period ends on July 1.

The application was filed with Greece’s Hellenic Capital Market Commission. Under MiCA, crypto firms must hold authorization to provide services across the EU. A single authorization can allow firms to passport services into multiple member states, so a denial by Greece could remove that route for Binance.

European regulators set a transition window for firms to obtain MiCA authorization. The European Securities and Markets Authority warned in April that firms serving EU customers without the required license after July 1 would breach EU law and should prepare to wind down operations or transfer customers to licensed platforms.

Binance said it complied with MiCA requirements and engaged with regulators during an 18‑month application process. The company added it received no indication the filing would be rejected and that it followed regulatory procedures. “Binance received no indication that the application would be rejected.”

Binance reached a $4.3 billion settlement with U.S. authorities in 2023 over anti-money‑laundering failures. Its former CEO received a four‑month prison sentence that was later pardoned. Current CEO Richard Teng has prioritized obtaining regulatory approvals in major jurisdictions.

If Greece formally rejects the application, Binance could be required to wind down services to EU customers or move those customers to other licensed entities before July 1. National regulators and EU authorities may take enforcement actions against firms operating without MiCA authorization after the transition deadline.