Binance Says EU License Application Meets MiCA Rules Despite Greek Rejection Report
Binance said its European crypto license application is compliant with MiCA requirements after a Reuters report said Greece’s financial watchdog is set to reject it. The decision matters because crypto firms need MiCA authorization to operate in the EU by the end of June.
What happened?
Binance said its European crypto license application is compliant with MiCA requirements after a Reuters report said Greece’s financial watchdog is set to reject it. The decision matters because crypto firms need MiCA authorization to operate in the EU by the end of June.
Why it matters
Binance pushed back against a report that its European regulatory application is set to be rejected in Greece, saying its Markets in Crypto Assets license bid is compliant with EU requirements. Reuters reported Tuesday, citing two people familiar with the situation, that Greece’s Hellenic Capital Market Commission is expected to reject the application.
Binance pushed back against a report that its European regulatory application is set to be rejected in Greece, saying its Markets in Crypto Assets license bid is compliant with EU requirements. Reuters reported Tuesday, citing two people familiar with the situation, that Greece’s Hellenic Capital Market Commission is expected to reject the application.
The development is significant because crypto companies need a MiCA license to operate across the European Union by the end of this month. For Binance, the world’s largest cryptocurrency exchange, a rejection could affect its ability to serve European customers under the bloc’s new crypto regulatory framework.
Binance told CoinDesk it has spent 18 months pursuing the license, including what it described as a comprehensive application process with the Greek regulator. A company spokesperson said Binance understands that the HCMC completed its review, considered the application compliant with MiCA requirements, and that the application was also reviewed at the European Securities and Markets Authority level.
The spokesperson also said the HCMC had informed ESMA that it viewed the application as compliant and intended to move the license forward for authorization at an upcoming board meeting. CoinDesk reported that the Hellenic Capital Market Commission did not immediately respond to requests for comment.
Binance chose Greece as its MiCA jurisdiction after earlier speculation that it could seek approval in Malta, where it had offices. Greek media reported late last year that the exchange had set up a Greek holding company in connection with the HCMC license application.