Binance applies for MiCA license ahead of July deadline

Tech

Binance applies for MiCA license ahead of July deadline

Binance, one of the worlds leading crypto exchanges, has filed for a Markets in Crypto-Assets (MiCA) license in Greece through a holding corporation called Binary Greece as part of its bid for EU-wide operating rights.

Athens-based Binary Greece was registered late last year, according to D News. The entity serves as Binances home base for securing a MiCA license, which, if granted, would allow the company to passport its services across all 27 EU member states from a single regulatory hub.

The application is being reviewed by the Hellenic Capital Market Commission (HCMC), Greeces securities regulator.

The HCMC has invited five leading audit and advisory firms, including Ernst & Young, KPMG, Grant Thornton, Deloitte, and PwC, to assist with the complex assessment required under the EUs MiCA framework.

The MiCA framework, introduced by the EU in 2023, requires digital asset firms operating in Europe to obtain authorization before July 1, 2026. Only 4% of crypto platforms registered in France have secured MiCA authorization so far.

Approval would help Binance maintain its presence ahead of the July deadline, after which unlicensed firms must cease operations in several member states.