Why Binance Chose Greece for Its MiCA License
Instead of choosing well-known crypto hubs such as Malta or Latvia, Binance selected Greece for its application. Reports suggest the Greek regulator is moving quickly and has brought in global advisory firms to help review the complex application.
Binance has also set up a new Greek holding company, named Binary Greece. This company has no end date, showing Binance is planning a long-term presence rather than a temporary solution.
If approved, a single MiCA license would allow Binance to legally offer crypto services across all EU member states, replacing the need for separate national approvals.
Europe Remains a Key Market for Binance
Binance’s move to file in Greece shows how important Europe is to its long-term plans. In recent years, the exchange has faced regulatory pressure in several countries, forcing it to adjust operations and exit some markets.
With more than 20 million users in Europe, securing regulatory approval has become a top priority.
This filing also adds to Binance’s existing approvals in countries like France, Italy, Spain, Poland, Sweden, and Lithuania, where it already operates under earlier crypto rules.
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FAQs
Other exchanges may look to Greece as a faster route to EU approval, potentially creating a trend of applications there. Regulators across the EU could also coordinate more closely to maintain consistent oversight.
Without the license, Binance may have to limit or suspend services in the EU, risking loss of European users and potential fines for operating without regulatory approval. The company could also face reputational challenges among investors and partners.
European crypto traders and institutional clients could see changes in service access or product offerings if approval is delayed. Local regulators, competitors, and partners may also adjust operations based on the license outcome.
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