Binance halts EU operations after withdrawing Greek MiCA license

Binance announced it is withdrawing its application for a Markets in Crypto-Assets (MiCA) licence from Greece's Hellenic Capital Market Commission, meaning the exchange will no longer be able to operate legally across the European Union after 1 July. The decision follows an assessment of the regulatory timeline and the lack of a formal decision, with the company saying it remains committed to the continent and will seek a new licence in another EU member state.

The move comes amid reports that regulators in Ireland and Latvia have also expressed resistance, citing past anti‑money‑laundering sanctions against Binance. Founder Changpeng Zhao (CZ) told The Block that political forces and competition between two European jurisdictions blocked the licence, and that rumors of direct involvement by European Central Bank officials were unconfirmed. Binance assured users that deposited funds remain safe, though certain services may be restricted, and warned that operating without a licence could lead to criminal liability in countries such as France.

Under MiCA, a single authorised member‑state licence permits a crypto‑asset service provider to passport its services throughout the 27‑nation EU. With Binance currently lacking that authorisation, it must suspend new account openings, limit promotional activities, and allow users only to sell, transfer, or close existing positions until a new licence is secured.