Binance Files for MiCA License in Greece Ahead of July 1 EU Deadline

Cryptocurrency exchange giant Binance has formally submitted an application for a crypto assets service provider (CASP) license under the European Union’s Markets in Crypto Assets (MiCA) regulation, specifically choosing Greece as its filing jurisdiction. This proactive step comes just weeks ahead of the critical July 1, 2024, deadline, which marks the implementation of key provisions of the MiCA framework across all 27 EU member states.

The MiCA regulation, the EU’s landmark legislation designed to harmonize crypto supervision, requires companies operating within the bloc to secure authorization to continue offering services legally. While the full implementation date for MiCA is set for December 2024, regulations concerning stablecoins and, critically, the requirement for operational licensing are being enforced starting July 1. By filing in Greece, Binance is consolidating its regulatory footprint and ensuring compliance continuity within the highly scrutinized European market.

This move underscores Binance’s commitment to achieving a pan-European regulatory presence. The exchange already holds various registrations and licenses in several major EU jurisdictions, including France, Italy, and Spain. Obtaining a MiCA license in one EU country allows the firm to ‘passport’ its services across the entire economic area, eliminating the need for separate national licenses under the new standardized regime. The Greek filing is seen as a strategic pivot to solidify operational guarantees before the regulatory window potentially narrows, ensuring seamless access for its European user base post-July 1 enforcement.

Source: Binance Files for MiCA License in Greece Ahead of July 1 EU Deadline