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Binance has withdrawn its Markets in Crypto-Assets license application in Greece and will seek authorization in another European Union member state.
The move comes days before the June 30 MiCA authorization deadline, leaving Binance with little time to secure another EU route before restrictions apply from July 1.
Binance Will Seek Another EU License
Binance said it made the decision after reviewing the status and timing of the Greek process. The exchange had filed its application with the Hellenic Capital Market Commission.
The company said Europe remains an important market and that it expects to secure a MiCA license in the coming months. It did not name the next jurisdiction where it plans to seek authorization.
Greek Filing Came Under Pressure
The withdrawal follows earlier pressure around the Greek application. Binance had said last week that it believed its application met MiCA requirements and that the Greek regulator had completed its review.
Approval in Greece would have given Binance a regulated base for EU operations under one framework.
MiCA Passporting Made Greece Important
MiCA allows a crypto-asset service provider licensed in one EU country to offer services across the 27-member bloc. That passporting model is why the Greek application mattered.
Without authorization, Binance must deal with the end of the transition period and the start of tighter EU access rules from July 1.
ESMA Limits Unauthorised Firms
ESMA has told unauthorised crypto firms to stop onboarding new EU clients, stop marketing and limit services to steps needed for users to sell, transfer or close positions.
Custody can continue only for the time needed to complete an orderly exit. That leaves Binance facing a narrow compliance window while it looks for another member-state approval.
Users Await Onboarding and Trading Limits
Binance said some users may be affected depending on where they live and which services they use. The exchange said it will contact affected users directly before any account changes take effect.
The most likely changes would involve onboarding, product access, trading permissions and account migration options. Binance said user funds remain safe and that it is working to limit disruption.
Binance Tests MiCA Access Rules
The setback makes Binance one of the highest-profile tests of MiCA’s licensing regime. The exchange is still trying to secure a route into Europe while regulators push unauthorised firms to prepare for wind-down.
The immediate test is whether Binance can announce a new EU filing while limiting user disruption from July 1.
