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Briefly
- Binance has filed for a MiCA license in Greece, having established a holding firm within the EU member state in December.
- The applying is being fast-tracked by the Greek markets regulator, with Binance saying that it selected Greece due to its financial progress.
- France has lately opposed the ‘passporting’ of MiCA licenses to the EU as a complete, whereas the European Securities and Markets Authority is looking for extra centralized management over crypto corporations.
Binance has utilized for a Markets in Crypto-Property Regulation (MiCA) license in Greece, forward of a deadline requiring crypto-asset service suppliers working within the EU to safe a license by July 1.
The trade is engaged on the appliance with Greece’s monetary regulator, the Hellenic Capital Market Fee (HCMC), having established a holding firm within the EU member state in December.
Its Greek holding firm, Binary Greece, was arrange as a single-shareholder public restricted firm, with preliminary share capital declared at €25,000.
Binary Greece has been included for an indefinite period, signalling a long-term strategic presence within the nation, whereas its articles of affiliation state that its major enterprises would be the providing of economic advisory companies and funding in corporations in Greece and elsewhere.
Binance in Greece
Greece has but to award MiCA licensing to any cryptocurrency service supplier, but Binance advised Decrypt that it’s “actively participating” with the HCMC, which started fast-tracking the licensing course of after Binance established its native holding firm.
“We welcome the chance to work intently with the HCMC as this new regulation takes form within the EU and sit up for contributing to the long-term progress of the EU’s Europe’s digital monetary ecosystem,” a spokesperson for the trade stated.
By way of why Binance selected Greece forward of different EU member states, the trade advised Decrypt that it was partly attracted by the nation’s encouraging progress, with the Greek authorities anticipating GDP to rise by 2.4% in 2026.
Its spokesperson stated, “Greece is a vital contributor to the EU’s financial framework, with an economic system rising above the EU common and a powerful regulatory atmosphere that promotes monetary stability, transparency, and investor safety.”
The EU's MiCA regime
With out MiCA licensing, Binance must stop providing companies inside the European Union from July 1 onwards.
France’s monetary regulator, the AMF, warned earlier this month that 90 crypto-asset service suppliers registered in France haven’t but gained a MiCA license, whereas 27 of those companies (30%) had not responded to the regulator’s queries on whether or not they would search licensing.
One other 27 had responded that they’d utilized for a license, a bunch which now contains Binance, which says that it welcomes the MiCA regulation.
Its spokesperson stated, “We see MiCA as a optimistic and essential milestone for the business – one which brings better regulatory readability, stronger consumer protections, and a transparent framework for accountable innovation.”
Thus far, MiCA licenses have been granted to corporations together with Coinbase, Kraken, Bitstamp, eToro, Circle and Revolut.
In September, France’s monetary regulator threatened to dam so-called passporting of licensing, suggesting that companies could also be looking for EU-wide licenses from extra lax member states.
The European Fee can be pushing for the European Securities and Markets Authority to have centralized oversight over all crypto-asset service suppliers within the EU, a transfer which Malta has opposed.
