Binance withdrew its application for a Markets in Crypto-Assets Regulation license with Greece's Hellenic Capital Market Commission on Wednesday, days before the regulation's transitional period closes on July 1, and said it will seek authorization from a different EU member state.
"When we are ready to announce that Member State, we will do so publicly," Binance said in a statement Wednesday.
The company spent months in the Greek licensing process. Binance said it worked with the HCMC "constructively and in good faith" over that period but received no formal decision before the deadline. The company described the withdrawal as a decision made "after careful consideration of the status and the timeline of the process in Greece, with our users' interests at the center."
Binance has decided to withdraw its MiCA licence application in Greece and pursue authorisation in another EU Member State.
— Binance (@binance) June 24, 2026
Gillian Lynch, Binance's head of Europe and the United Kingdom, told Reuters the exchange is "not leaving Europe" and would pursue authorization in another EU jurisdiction. Lynch confirmed that Binance contacted multiple regulators but formally applied only in Greece. The exchange held talks in Ireland, Latvia and Greece, and encountered resistance over past money-laundering penalties and what officials viewed as a risk-taking culture within its corporate structure.
Binance had publicly disputed reports that its application was in trouble. On June 16, the company said the HCMC had reviewed the submission and considered it compliant, subject to further review by the European Securities and Markets Authority. The company expected the process to move toward authorization. Six days later, ESMA issued a statement that crypto service providers still without authorization by July 1 must take "immediate" steps to wind down their EU activities.
Some EU users face account changes before July 1
Binance said the withdrawal may affect some users depending on their country and account status. The company said it is in direct contact with all EU users to explain what actions may be required and what timelines apply. Users can also reach out to Binance's customer support for account-specific guidance.
"This means some users may be impacted, and we will communicate directly with affected users to provide clear information on next steps," a Binance representative said. "All user funds remain safe and secure. Our priority is to minimize disruption, provide clarity to users, and continue building a trusted and compliant digital asset ecosystem globally."
The company issued a separate warning on impersonation scams. Binance said it will never contact users by phone and that official communications will not request passwords or authentication credentials.
CryptoQuant data showed Binance handled between roughly $100 million and $250 million in daily euro-pair volume in 2026, with occasional spikes of around $600 million. The exchange held an estimated 18.5% share of euro-denominated spot trading, second behind Kraken's 43.3%.
Token issuers face gap as Binance stays off MiCA list
Binance's exclusion from the list of authorized exchanges carries additional weight for token issuers. Under MiCA, crypto asset white papers must be notified to regulators, and authorized exchanges have stepped into that preparation role for assets they plan to list.
Ryan King, creator of the EU Crypto Register, said in a LinkedIn post that at least 380 of 867 white-paper entries he tracked were notified by third parties rather than token issuers. Kraken, LCX, OKX and Bitstamp accounted for 271 of those notifications, about 31% of the total.
Anastasiia G
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