Binance Drops Greece MiCA Application and Targets New EU Jurisdiction Before July 1

Binance has withdrawn its MiCA licensing application with Greece’s Hellenic Capital Market Commission and is now looking to file in a different EU member state all just days before the July 1 deadline.

The exchange said it will announce the new jurisdiction publicly when ready. Binance’s head of Europe and the UK, Gillian Lynch, was clear that the company is “not leaving Europe” and intends to push forward with authorization elsewhere in the bloc.

Why Greece Did Not Work Out

Binance held talks with Ireland, Latvia and Greece but ran into resistance at each turn. Regulators reportedly had concerns over the exchange’s past money-laundering penalties, its international structure and what officials described as a risk-taking culture. Greece’s regulator had considered the application compliant subject to further ESMA review, but the process did not advance.

What This Means for European Users

Binance said some users may be affected and will be contacted directly with next steps. The exchange stressed that all user funds remain safe. It also said it plans to take the necessary steps before July 1 to stay compliant with applicable requirements.

ESMA warned on Tuesday that any crypto firm still unlicensed after the deadline must immediately begin winding down EU operations. Binance currently holds around 18.5% of euro-denominated spot trading volume in Europe, sitting second behind Kraken’s 43.3% share, handling between $100 million and $250 million in daily euro-pair volume.