- Binance formally applies for a MiCA license in Greece to continue EU operations.
- The exchange establishes a Greek holding company and engages directly with regulators.
- EU-wide MiCA enforcement deadlines in 2026 place pressure on all crypto platforms.
The largest crypto exchange, Binance, has formally applied for a Markets in Crypto-Assets (MiCA) license in Greece to secure its operations across the European Union. The move comes as EU regulators set mid-2026 deadlines requiring all crypto firms to obtain authorization.
The Greek regulator, the Hellenic Capital Market Commission (HCMC), is reviewing Binance’s application.
Binance’s Application and Greek Subsidiary
According to a report by local media, the platform, with 300+ million users, has submitted its MiCA application in Greece, establishing a wholly owned subsidiary named Binary Greece. The company was incorporated as a public limited company with a share capital of €25,000 and structured as a holding company.
Binary Greece is authorized to manage equity stakes in other companies and provide advisory services on investment strategies, capital structuring, and liquidity management. The subsidiary is led by Gillian Majella Lynch, Binance’s Head of Europe and the United Kingdom, who joined the company in 2025.
Binance confirmed it is in active discussions with the HCMC, emphasizing that the MiCA framework offers clarity and consistent rules that support innovation while ensuring compliance across EU countries. The application is reportedly being fast-tracked, with large accounting firms such as Ernst & Young and KPMG assisting Greek regulators in the review.
Why Greece?
Binance’s choice of Greece is notable, as the country is not typically viewed as a major financial hub like Malta or Luxembourg. The company highlighted Greece’s growing economy and its regulatory environment, which it sees as conducive to long-term strategic operations.
Corporate filings suggest Binance intends a long-term presence in Greece, signaling plans for a significant office and workforce in the country if the license is approved. Analysts suggest this move reflects Binance’s strategy to secure a solid foothold in Europe amid stricter regulatory oversight elsewhere.
MiCA and EU Regulatory Pressure
The MiCA framework, introduced in 2023, standardizes crypto regulation across the European Union and allows licensed companies to operate in multiple countries under a single authorization. Firms that fail to obtain approval before the July 1 deadline risk fines or losing the ability to operate in the EU.
Binance currently operates in several EU countries, including France, where authorities have conducted inspections related to risk management and anti-money laundering systems. The exchange has faced increased scrutiny following its 2022 U.S. settlement, and French regulators continue to push for stricter enforcement under MiCA.
Competition and Market Impact
More than 50 crypto companies have already obtained MiCA licenses, including major competitors such as Kraken, Coinbase, and KuCoin. In France, only 4% of registered crypto firms have received full authorization, showing the strictness of enforcement.
The EU’s stablecoin market is also shifting under MiCA rules. Some major tokens, such as Tether, have been removed from EU exchanges due to non-compliance, while euro-backed alternatives like USDC, EURCV, and EURe have secured approval.
Related: Binance Australia Restores Banking Access to Users After Over Two Years
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