Binance disputes Greek regulator's MiCA license application rejection report
In brief
- Binance claims Greek regulator HCMC found its MiCA application compliant with requirements
- Reuters reported HCMC plans to reject the application after Binance's 18-month pursuit
- Rejection would block Binance from serving EU customers under MiCA framework
The Regulatory Standoff
Reuters reported that Binance's MiCA license application in Greece is set to be rejected by the HCMC, a finding that would represent a significant setback for the exchange's European expansion plans.
Binance's account differs sharply. A spokesman said the HCMC "completed its review of the application and considered it compliant with MiCA requirements" and that the regulator informed ESMA (the European Securities and Markets Authority) it intended to progress the license and move to authorize it at an upcoming Board meeting.
The discrepancy centers on competing claims about the regulator's actual position. If the HCMC does reject the application, Binance may be unable to serve customers in Europe, as MiCA is the bloc's unified regulatory framework for crypto service providers.
An 18-Month Pursuit
Binance has been pursuing a MiCA license for the past 18 months, including through a comprehensive application process with the HCMC. The exchange chose Greece as its MiCA jurisdiction following speculation it might seek a license in Malta, where it had previously maintained offices. Binance also set up a Greek holding company in conjunction with the HCMC license application, according to Greek media reports.
The timing matters. MiCA deadlines loom, and delays or rejections could reshape how major exchanges operate across the EU. Binance's statement suggests the regulator's internal review supports approval, but the Reuters account indicates the HCMC may move differently when the matter reaches its Board.
