The future of Binance’s bid to secure a cryptocurrency operating license in Greece has become increasingly uncertain, with the exchange and Greek government sources offering sharply different accounts of the status of its application.
Media reports earlier this week, citing people familiar with the matter, said Greece’s capital markets regulator was poised to reject Binance’s application under the European Union’s Markets in Crypto-Assets (MiCA) framework. Such a decision could jeopardize the company’s ability to use Greece as a regulatory base to provide services across the European Union through MiCA’s passporting system.
Binance, however, has forcefully disputed that narrative. In a statement, the company said it submitted a fully compliant application and spent the past 11 months working closely with the Hellenic Capital Market Commission during an extensive review process. According to the exchange, regulators acknowledged throughout the process that the filing met MiCA requirements.
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The company went further, saying it understood that the application had also been examined by the European Securities and Markets Authority (ESMA) and that the Greek regulator had informed the EU watchdog it considered the filing compliant and intended to approve it at a forthcoming board meeting.
Yet another version of events has emerged from Athens. Sources at Greece’s Ministry of National Economy and Finance told Dnews.gr that Binance had “effectively withdrawn its application”, contradicting both reports that it faced an imminent rejection and the company’s own assertion that the licensing process remains active.
The conflicting accounts leave the precise status of the application unclear. While government sources suggest Binance itself stepped back from the process, the company’s statement contains no indication that it has withdrawn its filing. Instead, Binance portrays the application as fully valid and emphasizes its continued engagement with regulators.
The uncertainty comes at a critical moment for the exchange’s European strategy. Under MiCA, crypto firms licensed by one national authority can passport their services throughout the bloc, making regulatory approval in any member state strategically important.
Binance said it had planned to invest at least €200 million in Greece and create 100 highly paid jobs, describing the project as part of its long-term commitment to the country. It also said its immediate priority is to minimize disruption for European customers and promised to provide further guidance before June 30, 2026.
The company argued that the outcome extends beyond its own business, warning that inconsistent implementation of MiCA could undermine market liquidity, Europe’s competitiveness and the bloc’s tax base. It reiterated that it remains committed to operating in Europe and to complying with the new regulatory framework, provided it is applied in a harmonized manner across member states.
For now, however, the central question remains unresolved: whether Binance’s Greek licensing bid is awaiting a regulatory decision, facing rejection, or has already been withdrawn.
