Binance Ditches Greek MiCA Bid, Seeks New EU Home Amid MiCA Deadline

Binance, the world's largest cryptocurrency exchange, has withdrawn its application for a MiCA license in Greece. The move comes as Europe's Markets in Crypto Assets (MiCA) regulation takes effect on July 1.

In a statement, Binance said it had decided to seek authorization in another EU member state after reviewing the status and timeline of the Greek process. The exchange emphasized that user interests were central to this decision and that customers' funds remain safe, secure, and accessible at all times.

The MiCA regulation requires crypto firms to obtain an EU license by July 1 to continue servicing customers in the 27-nation bloc. Binance had applied for a license in Greece, which would have allowed it to operate across the EU under the 'passport' system. However, Greek authorities were reportedly set to reject the application.

Binance Europe head Gillian Lynch stated that the exchange was not leaving the European market and was exploring alternative options. The firm has contacted regulators in Ireland, Latvia, and other countries as backup plans.