- Binance is seeking a MiCA license in Greece, the company said.
- That license would allow the company to operate across the EU.
- There were a couple reasons for establishing a presence in Europe, a spokesperson said.
Binance, the world’s largest crypto exchange, has established a presence in Greece as it seeks a license that would allow it to operate anywhere in the European Union.
The EU’s Crypto-Assets Regulation, or MiCA, provides a framework for almost all aspects of centralised crypto asset trading. And it allows crypto companies that set up shop in one EU member state to market their services to consumers throughout the 27-nation bloc.
“We have submitted our MiCA application and are actively engaging with the Hellenic Capital Market Commission,” a Binance spokesperson told DL News, referring to the Greek financial regulator.
“We see MiCA as a positive and important milestone for the industry – one that brings greater regulatory clarity, stronger user protections, and a clear framework for responsible innovation.”
Binance currently holds at least five licenses in EU member states, according to its website: France, Italy, Spain, Poland and Sweden. It had previously sought a German license but withdrew that application amid reports the country was expected to reject it.
If Binance were to acquire a MiCA licence, it would operate under those rules in EU member states, rather than the mix of regulations it currently faces.
“We continue to operate in accordance with applicable local requirements under relevant regulations until these are superseded by the MiCA license,” the spokesperson said.
Last year, Binance announced its global business had received approval to operate in Abu Dhabi, though the company still rejected the term “headquarters,” calling the concept “symbolic” and “old-fashioned.”
While Greece might not serve as Binance’s European HQ — the company already has a large presence in France, for example — the mediterranean nation is still an interesting place for Binance to establish its pan-European foothold. The country isn’t known as a crypto hub.
“Greece is an important contributor to the EU’s economic framework, with an economy growing above the EU average and a strong regulatory environment that promotes financial stability, transparency, and investor protection,” the spokesperson said.
In 2023, Coinbase, one of Binance’s top rivals, chose Ireland as its EU access point.
Binance’s MiCA application was first reported by Greek publication D News.
Aleks Gilbert is DL News’ New York based DeFi correspondent. Have a tip? You can reach him at aleks@dlnews.com.