The accounts of Binance Europe Single-Member S.A., filed with Greece’s General Commercial Registry, still describe the company’s 2026 outlook as one in which it would begin operations after securing authorization from the Hellenic Capital Market Commission, Greece’s securities regulator.
The problem is that Binance has already withdrawn its application in Greece for a license under the European Union’s Markets in Crypto-Assets regulation, known as MiCA.
In effect, the filings released this week present the company’s future on the basis of a plan that is no longer in place.
Binance Europe was incorporated in Greece on Dec. 23, 2025, with the intention of providing crypto-asset services, subject to obtaining authorization as a Crypto-Asset Service Provider, or CASP, from the Greek regulator under MiCA.
Once licensed, the company had planned to offer services not only in Greece but across other countries in the European Economic Area, taking advantage of the regulatory passporting framework created by the EU regime.
That strategy has since unraveled.
Binance withdrew its Greek application for the sought-after MiCA authorization shortly before the relevant deadline, after encountering what were described as “specific institutional requirements” in Greece. The circumstances surrounding the withdrawal have drawn attention in the local market and suggest that the regulatory process proved more complicated than initially anticipated.
The 2025 financial statements appear to reflect the business plan in place when they were prepared, while also sitting awkwardly alongside developments that followed.
Still, the timing of their publication is striking. Just as Binance has abandoned Greece as the route for its European MiCA license, its Greek subsidiary has released accounts that continue to describe regulatory approval in the country as the basis for its planned launch in 2026.
The discrepancy illustrates how quickly Binance’s Greek strategy changed—and how corporate filings can sometimes capture a version of the future that has already ceased to exist.
