Binance has submitted an application in Greece for a license under the EU’s Markets in Crypto-Assets Regulation (MiCA) in light of warnings from French regulators about imminent compliance deadlines.
A spokesperson from Binance stated on Friday that the exchange is collaborating with Greece’s financial regulator, the Hellenic Capital Market Commission (HCMC), regarding their licensing application.
“We are pleased to work closely with the HCMC as these new regulations develop in the EU and are keen on contributing to the long-term evolution of the EU’s digital financial ecosystem,” said a representative from Binance.
France Identifies Binance Among Non-MiCA-Compliant Exchanges Last Week
This development follows a warning from France’s Autorité des Marchés Financiers (AMF) on January 13, which highlighted that Binance was among 90 crypto firms that remain unlicensed under MiCA regulation. The AMF stated it informed these companies that the transition period for MiCA would conclude on June 30, requiring non-compliant firms to halt operations by July.
Founded in 2017, Binance stands as the largest centralized exchange globally based on trading volume, reportedly handling an average of $11.9 billion daily, according to CoinGecko.
Top Crypto Exchanges by Trading Volume
The top five crypto exchanges based on trading volumes as of Friday. Source: CoinGecko
- “We regard MiCA as a significant and beneficial milestone for the sector — offering improved regulatory clarity, enhanced user protections, and a well-defined framework for accountable innovation,”* remarked Binance’s representative.
Greece Has Not Yet Granted Its First MiCA License
Data from the European Securities and Markets Authority (ESMA) shows that Greece has yet to provide any MiCA licenses to crypto-asset service providers. By January 15, Germany and the Netherlands each led the EU in issuing CASP MiCA licenses with 43 and 22, respectively, while France’s AMF has granted 11 licenses.
EU Member States Ranked by Issued MiCA Licenses
EU member states ranked by the number of issued MiCA licenses as of January 15. Source: ESMA
Last Friday, KBC, one of Belgium’s largest banks, disclosed plans to offer Bitcoin and Ether trading in February, anticipating acquiring a MiCA license in Belgium, which has also not issued its first authorization.
Related: Moldova Moves to Regulate Crypto Under EU-Style MiCA Rules
Regulatory scrutiny of Binance has intensified long before MiCA came into full effect in late 2024. In 2021, numerous member states raised concerns about Binance being an unregulated exchange. The platform has since encountered persistent warnings as authorities stepped up oversight. In 2023, Binance’s co-founder and former CEO Changpeng Zhao admitted guilt to money-laundering charges in the U.S. and served a four-month prison sentence, highlighting regulators’ increasing calls for stricter compliance.
