Photo by Binance, the world’s biggest crypto exchange, has formally applied for a MiCA (Markets in Crypto-Assets) license in Greece. The application follows warnings from regulators in other EU states.
According to reports, the process is on a fast track under the Hellenic Capital Market Commission (HCMC). The regulator has asked major accounting firms, including Ernst & Young and KPMG, to help it review the proposal.
A Binance spokesperson confirmed in a statement that the company had applied for a MiCA license in Athens and was in active discussions with the HCMC.
“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 Binance spokesperson added.
Greece has not issued any MiCA licenses to crypto firms
Under the European Union’s crypto rules, MiCA, crypto companies must obtain licenses from national regulators to operate across the bloc. Those rules came into force last year, demanding that crypto firms operating on the continent must obtain them before July 1.
Binance began restricting services for European users ahead of MiCA’s compliance deadline. The exchange blocked copy trading and asked users to close positions. It also limited products linked to unregulated stablecoins while maintaining spot trading, deposits, and withdrawals. These were among the first major steps by a major exchange toward MiCA compliance.
As reported by Cryptopolitan, France’s Autorité des Marchés Financiers said Binance was among 90 crypto firms registered in the country that remain unlicensed under MiCA. Binance currently operates in at least six European countries through licenses issued by various national regulators.
The company has offices in several European countries, including France, where it has had a tangled relationship with authorities over compliance policies. In October, Binance confirmed that it has been subject to onsite inspections by JUNALOC, the Paris division of the French Public Prosecutor’s Office.
Meanwhile, public data from the European Securities and Markets Authority shows that Greece has not yet issued any MiCA licenses to crypto-asset service providers. Germany and the Netherlands have issued the most MiCA licenses in the EU, with 43 and 22, respectively. France has granted 11 licenses through the AMF.
MiCA licensing is also extending beyond crypto-native firms. Recently, KBC, a Belgian bank, announced plans to launch Bitcoin services and said it expects to obtain a MiCA license in Belgium, which has not yet issued any authorizations.
KuCoin’s European unit has also received a MiCA license in Austria. This approval allows KuCoin EU Exchange GmbH to offer regulated crypto services across 29 countries in the European Economic Area, excluding Malta.
More than 50 crypto companies now hold MiCA approval
Of over 100 platforms registered in France, only four have received full authorization so far. Competitors such as Kraken, Binance, KuCoin, Bybit, Coinbase, and OKX have already obtained MiCA-compliant licenses and now operate in all countries of the European Economic Area or will soon launch. Overall, more than 50 crypto companies now hold MiCA approval.
Tether, the biggest stablecoin, has not yet received a MiCA license. It has already been removed from several EU exchanges. On the other hand, Circle with EURC and USDC, Société Générale-Forge with EURCV and USDCV, and Membrane Finance with EURe and eUSD have successfully cleared the regulatory hurdle.
The consequences for non-compliant companies are drastic. Regulators have already imposed fines totaling more than 540 million euros against crypto firms that violated regulatory requirements. After the July 2026 deadline, all tolerance ends, and companies without appropriate authorization will lose their operating licenses in the European Union.
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