Binance said on June 16 that Greece’s Hellenic Capital Market Commission completed its review of the exchange’s Markets in Crypto Assets application and found it compliant with MiCA requirements, pending approval from the European Securities and Markets Authority.
The claim contradicts Reuters reporting that EU regulators were preparing to reject Binance’s licensing bid. MiCA, the European Union’s regulatory framework for crypto assets, requires companies operating in the EU to gain approval by the end of June to offer services to residents.
In a blog post, Binance stated: “Binance serves more users in Europe than any other crypto exchange, and any delay or distortion in our MiCA path has consequences beyond Binance. It risks weakening liquidity, reducing competition and user choice, and pushing activity, jobs, investment, and tax revenue outside the EU.”
Binance applied for MiCA licensing in Greece under the HCMC in January. A Binance spokesperson said the company “intended to progress the licence and move to authorise at an upcoming board meeting” at ESMA, but did not specify a timeline for that meeting.
The June 30 deadline marks the end of MiCA’s transition period. If Binance’s application is rejected, the exchange could lose its ability to operate in the EU on July 1.
Regulators in Germany and the Netherlands have already approved licenses for crypto companies under MiCA. The conflicting signals from Greece and Reuters reporting suggest regulatory fragmentation across the bloc, with some national authorities moving to authorize platforms while others signal resistance.
Binance’s regulatory history
The exchange agreed to a $4.3 billion settlement with the US Treasury Department and Department of Justice in 2023. Then-CEO Changpeng Zhao pleaded guilty to one felony charge as part of that settlement.
US lawmakers have pressed Binance for answers regarding compliance after reports the exchange facilitated $1 billion to sanctioned entities. The company’s EU licensing prospects come as it faces ongoing scrutiny from multiple jurisdictions.
The HCMC’s “compliant” determination does not guarantee approval. ESMA’s review will be the final step in the EU authorization process. The outcome will determine whether Binance can legally serve European users beyond July 1.
