Binance does not give up in the EU: new MiCA license application after failure in Greece
Binance is making another attempt to obtain a license under the MiCA regulation, despite a recent rejection by the Greek regulator. The largest cryptocurrency exchange clearly has no intention of leaving the European market and is seeking alternative paths for legal operation within the European Union's jurisdiction.
As a reminder, the Hellenic Capital Market Commission (HCMC) rejected Binance's application for a MiCA license, which was submitted back in January 2026. Information about this emerged in mid-June, when Reuters, citing anonymous sources, reported the regulator's plans to respond with a refusal. The exchange initially denied this information, claiming that the documents were deemed correct and the approval process was ongoing, but the rejection was ultimately officially confirmed.
The situation is exacerbated by the fact that HCMC has not issued a single MiCA authorization to any cryptocurrency company to date. Choosing Greece as a base region was initially fraught with high regulatory risks. Now Binance has very little time left: without approval in any other EU country by June 30, the exchange will legally lose the right to serve residents of the European Union starting July 1, 2026.
New Direction: The Battle for a European Passport
Binance's management, however, is not planning to wind down its business in Europe. Currently, the management is focused on protecting the interests of retail clients and finding a new jurisdiction to submit an application. The exchange promises to directly notify users of further actions and available options by June 30.
The key challenge for Binance is time. Major competitors have already obtained MiCA licenses and hold a significant strategic advantage. Kraken is registered in Ireland, OKX and Crypto.com in Malta, Bitstamp in Luxembourg, and Bitpanda in Austria. All of them have access to 30 EEA countries. Binance's previous local registrations in France, Italy, Spain, Poland, Sweden, and Lithuania have lost legal force under the new regulation and do not allow the use of the "European passport" mechanism.
Cryptalist Analysis
If Binance's new application is not approved in the coming days, European users will likely begin migrating to Coinbase, Kraken, or Crypto.com. These platforms have been actively investing in compliance with European regulatory requirements over the past two years. Binance finds itself in a catch-up position, and the cost of a mistake here is the loss of an entire continental market. From my perspective, the outcome of this story will determine not only Binance's future in the EU but also the balance of power across the entire European crypto market.