Binance, the world’s largest cryptocurrency exchange, has officially applied for a MiCA license in Greece. The Hellenic Capital Market Commission (HCMC) has already commenced an expedited review of the documents. Major accounting firms, including Ernst & Young and KPMG, have been engaged to evaluate Binance’s proposal.
Change of Jurisdiction
Binance’s decision to choose Greece defies market expectations, which had anticipated a filing in Malta or Latvia. The exchange has already registered a Greek holding company. According to data from the local publication D News, the legal entity was incorporated for an indefinite term, signaling a long-term strategy rather than a temporary fix.
A Binance spokesperson confirmed the filing and active dialogue with the HCMC. The company views the MiCA regime as a tool providing legal clarity and a framework for innovation. The exchange describes the local regulatory environment as conducive to financial stability and investor protection.
If approved, the exchange is set to establish a full-fledged corporate office in the country with significant staffing.
Current Situation
The MiCA regulation, which entered into force in 2023, set a strict deadline for crypto companies: they must obtain a license by the end of June 2026. Firms failing to complete the procedure face the forced closure of operations across European Union countries.
Currently, Binance operates in six European jurisdictions through local licenses but faces pressure from national regulators. In October, the company confirmed on-site inspections by JUNALOC, a division of the Paris Prosecutor’s Office.
France, leading a group of skeptics regarding MiCA’s current implementation, has expressed concern over the “passporting” mechanism, which allows a company with a single license to operate across the entire bloc. Paris is lobbying to transfer supervisory functions to a central authority — the European Securities and Markets Authority (ESMA), though industry lawyers warn of the risks of disrupting the existing regulatory structure.
Chances of Approval
Barring radical changes to MiCA regulations, Binance’s position in Greece appears strong. Sources familiar with the process state that companies only initiate formal correspondence with the regulator after months of consultation and with firm confidence in a positive outcome. Obtaining a Greek license will allow the exchange to legally engage in marketing and serve clients across the entire European Union.
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