TLDR
- Binance withdrew its MiCA license application in Greece after regulators raised concerns
- The company says it will apply in another EU country but has not named which one
- The July 1 MiCA deadline requires crypto firms to hold an EU license or wind down operations
- Greek, Irish, and Latvian regulators jointly tracked the bid, citing Binance’s past legal issues
- Some European users may see account changes, but Binance says all funds remain safe
Binance has withdrawn its Markets in Crypto-Assets (MiCA) license application in Greece. The world’s largest crypto exchange made the announcement on Wednesday, just days before a critical EU regulatory deadline.
⚡️UPDATE: BINANCE FIGHTS TO STAY IN EUROPE
Binance has withdrawn its MiCA licence application in Greece and is now seeking authorization in another EU member state, Reuters reports.
The company says it remains committed to the EU and its European users. pic.twitter.com/fPNWj3TEK6
— Coin Bureau (@coinbureau) June 24, 2026
The company said it pulled the application “after careful consideration of the current status and timeline of the Greek process.” It has not yet named which EU country it will approach next.
What the MiCA Deadline Means
Under MiCA rules, any crypto firm that wants to serve customers across the EU’s 27 member states must hold a valid license from at least one member country by July 1, 2026. The European Securities and Markets Authority said this week that unlicensed firms must begin winding down EU operations immediately after that date.
Euro-denominated trading pairs make up around 1% of Binance’s global spot trading volume, according to data from CryptoQuant. That suggests a European setback may have a limited financial impact on the business overall.
Still, Binance handles between $100 million and $250 million in daily euro-pair volume in 2026, with occasional spikes near $600 million. The exchange holds an estimated 18.5% share of euro-denominated spot trading, placing it second behind Kraken’s 43.3% share.
Gillian Lynch, Binance’s head of Europe and the United Kingdom, told Reuters the company is “not leaving Europe.” She said Binance had contacted regulators in other member states and plans to file a formal application elsewhere.
Why Greece Said No
Reuters reported that regulators in Greece, Ireland, and Latvia jointly reviewed Binance’s application. Officials raised concerns about the exchange’s past money-laundering penalties, its international corporate structure, and what they described as a risk-taking culture.
On June 16, Binance pushed back against reports of a rejection. The company said Greek regulators had reviewed the application and found it compliant with MiCA requirements, and that ESMA had also completed a review.
That position changed within days. The company confirmed the withdrawal on Wednesday and said it remains committed to the European market.
What Happens to European Users
Binance said it will take steps before July 1 to stay compliant with applicable rules. The company acknowledged that some users may be affected and promised to contact them directly with details.
“All user funds remain safe and secure,” a Binance representative said. “Our priority is to minimize disruption and provide clarity to users.”
The company did not specify which services or accounts could be impacted.
Exchanges as MiCA Gatekeepers
Binance’s licensing difficulties also affect token issuers. Licensed exchanges are increasingly filing MiCA white papers on behalf of token projects they list.
Ryan King, creator of the EU Crypto Register, said at least 380 of 867 white-paper entries were filed by third parties rather than the token issuers themselves. Kraken, LCX, OKX, and Bitstamp accounted for around 271 of those notifications.
Binance said it expects to secure a license “in the coming months” and will announce its chosen jurisdiction publicly when ready.
🚨 Our JUNE Stock Picks Are Live!
A new month means new opportunities. Our analysts have just released their top stock picks for June, highlighting companies with strong momentum that rank highly on our KO Score algorithm. We’re also now sharing trade ideas for both long-term and short-term investors, giving you more ways to spot potential opportunities in the market.
Sign up to Knockout Stocks today and get 50% off to unlock the full list and see which stocks made the cut.
Use coupon code Special50 for your exclusive discount!
Get 3 Free Stock Ebooks
Discover top-performing stocks in AI, Crypto, and Technology with expert analysis.
- Top 10 AI Stocks - Leading AI companies
- Top 10 Crypto Stocks - Blockchain leaders
- Top 10 Tech Stocks - Tech giants
