Binance EU Push Faces Deadline After Greece MiCA License Setback

Binance says it will stay in Europe after its Greek MiCA license setback, with its EU permission set to expire at the end-June.

Binance is facing fresh pressure in Europe after its Greek MiCA license effort failed before a key cutoff. 

Reuters reported on June 24 that the exchange still plans to remain in the European Union.

The company’s current permission to serve EU clients is set to expire around the end of June. That timing has made its search for another regulatory route more urgent.

Binance sought approval in Greece under the EU’s Markets in Crypto-Assets framework. 

The license would have allowed the exchange to serve users across the 27-country bloc.

The exchange now says it is reviewing other options after the Greek process failed. The case has placed renewed focus on Binance, MiCA rules, and EU crypto oversight.

Binance Says It Will Stay in Europe

Gillian Lynch, Binance’s head of Europe and the United Kingdom, spoke to Reuters about the setback. 

She said Binance is not leaving Europe after the Greek license process failed. She also said the company may follow a different path to authorization.

Binance had applied for a license in Greece, according to the Reuters report. Lynch said the exchange had expected the Greek regulator to approve the application. 

However, the process did not lead to authorization before the deadline.

The company said it contacted several regulators while seeking a route into the EU market. 

Binance said it made only one formal application, which was filed in Greece. A company spokesperson said it has not engaged Ireland’s central bank for several years.

MiCA Deadline Adds Pressure on Exchange

MiCA sets common crypto rules for companies operating across the European Union. 

Under the framework, firms need approval from one member state. That approval can then support services across the wider bloc.

Binance now has limited time before its current EU permission expires. Reuters reported that the deadline falls around the end of June. 

Without authorization, the exchange may need to wind down EU activity.

The European Securities and Markets Authority has warned unlicensed crypto firms to act quickly. 

It said firms without approval should take steps to close EU operations in an orderly way. This guidance adds pressure on companies still seeking approval under MiCA.

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Regulators Reportedly Raised Compliance Questions

Two people familiar with the process told Reuters that Binance held talks in Ireland, Latvia, and Greece. 

They said the exchange faced resistance from regulators in all three countries. The regulators either declined to comment or did not respond.

According to Reuters, officials reviewed Binance’s past money laundering penalties during the process. 

They also examined its global structure and internal risk culture. Binance said it has invested in compliance and internal controls.

Lynch said Binance employs about 1,500 compliance staff worldwide. She also said there were no outstanding issues tied to its application. 

The company declined to say how many of its 300 million global users are in the EU.

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