Binance Eyes European Comeback With MiCA License Bid In Greece As Clock Ticks On July 1 Deadline ⋆ ZyCrypto

Binance has submitted an application for a crucial Markets in Crypto-Assets Regulation (MiCA) license in Greece, ahead of a deadline requiring crypto-asset service providers operating in the EU to obtain licenses by July 1.

Binance Sets Sights On Greece

Binance confirmed on Friday that it had applied to the Hellenic Capital Market Commission (HCMC), Greece’s financial regulator.

“We see MiCA as a positive and important milestone for the industry — one that brings greater regulatory clarity, stronger user protections, and a clear framework for responsible innovation,” a Binance spokesperson said.

The move follows Binance’s incorporation of a local holding entity in Greece, Binary Greece, with an initial share capital of €25,000. According to its articles of association, Binance Greece will provide financial advisory services and invest in companies in Greece and elsewhere.

It’s worth mentioning that Greece has yet to grant a MiCA license to any crypto service provider, but Binance claimed that it is actively engaging with HCMC, which is reportedly reviewing the license application under a fast-track process after the behemoth exchange set up its local holding company. HCMC has enlisted major accounting firms, including Deloitte, Ernst & Young, and KPMG, involved in reviewing the submission.

“We welcome the opportunity to work closely with the HCMC as this new regulation takes shape in the EU and look forward to contributing to the long-term growth of the EU’s digital financial ecosystem,” the representative added.

The Greece application marks a crucial step in Binance’s wider endeavor to return to regulated markets after a tumultuous couple of years. Several European countries flagged Binance as an unregistered exchange back in 2021.

Then in 2023, Binance co-founder and former CEO Changpeng Zhao pleaded guilty in the US to money-laundering charges and served a four-month prison sentence, while the exchange paid a historic $4.3 billion fine to U.S. authorities, highlighting regulators’ push for more stringent compliance.

If granted by the Hellenic Capital Market Commission, the license would allow Binance to operate and promote crypto services across all 27 EU member states under MiCA’s passporting framework.