Binance MiCA Licence Application in Greece Faces Potential Rejection

Binance's application for a MiCA licence in Greece may be rejected by the Hellenic Capital Market Commission, according to sources cited by Reuters. The decision could prevent the exchange from legally serving customers across the European Union after 30 June, when the EU's Markets in Crypto-Assets regulation requires all crypto firms to hold authorisation from a national regulator. MiCA allows companies approved in one EU member state to operate throughout all 27 countries in the bloc. Binance has been engaged with Greek regulators for approximately 18 months and maintains its application meets regulatory standards, though the HCMC has not officially indicated the application will be rejected. The exchange said it will provide further guidance before the 30 June deadline.

MiCA Regulatory Framework Requires Authorisation by 30 June

The Markets in Crypto-Assets regulation requires crypto firms to obtain authorisation from a national regulator by 30 June in order to operate throughout the EU. Once approved in a member state, a company can use that licence to provide services across all 27 countries in the bloc. Without approval, exchanges do not qualify to continue operating in the European Union from the beginning of July.

Binance States Application Meets Regulatory Standards

Binance said it entered the process in good faith and has been engaged with regulators for approximately 18 months. The company stated it believes it meets the standards required for MiCA authorisation and understood its application had been assessed as compliant. A spokesperson said the HCMC had not provided any official indication that the application would be rejected. In response to the reports, Binance said it plans to "support an orderly process and minimise disruption to our users." The exchange confirmed it will issue another update before 30 June.

FAQ

What is the MiCA regulation deadline for crypto firms in the EU?

The Markets in Crypto-Assets regulation requires crypto firms to obtain authorisation from a national regulator by 30 June in order to operate throughout the European Union. Without approval by this date, firms do not qualify to continue operating in the EU from the beginning of July.

What did Binance say about its MiCA licence application in Greece?

Binance stated it believes it meets the standards required for MiCA authorisation and understood its application had been assessed as compliant. The company said the Hellenic Capital Market Commission had not provided any official indication that the application would be rejected, and confirmed it will issue another update before 30 June.