Binance Greece Strategy Unravels Ahead of MiCA Deadline

Binance's strategy to establish Greece as its gateway into the European Union appears to be unraveling, just weeks before the bloc's MiCA licensing deadline.

According to a June 16 Reuters report citing two sources familiar with the matter, Greece's capital markets regulator is preparing to reject Binance's application for a Markets in Crypto-Assets Regulation [MiCA] license.

The development marks a reversal from Binance's earlier push to position Greece as its long-term European regulatory base. In January, the exchange publicly confirmed it had established a Greek holding company called Binary Greece and was working closely with the Hellenic Capital Market Commission [HCMC] on a MiCA application.

Binance previously described Greece as an attractive jurisdiction due to its economic growth, regulatory environment, and labor force. However, despite maintaining that it satisfied MiCA compliance requirements, Reuters now reports that the application is expected to be rejected.