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- Binance seeks EU approval beyond Greece as the July 1 MiCA deadline nears for firms.
- ESMA tells unlicensed crypto providers to wind down EU activity before the deadline.
- Regulators cite Binance’s AML record, corporate structure, and risk culture concerns.
Binance seeks EU approval outside Greece if its MiCA application stalls. The exchange faces a July 1 deadline. Unlicensed crypto providers must exit the bloc or wind down services.
According to a Reuters report, Gillian Lynch, Binance’s head of Europe and the United Kingdom, confirmed the plan. She said the company remains committed to Europe, and other options are under review.
Binance filed its formal MiCA application only in Greece. Lynch said the company expected progress from that process. However, approval has not arrived before the fast-approaching compliance date.
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MiCA Rules Tighten Pressure on Binance EU License
The Markets in Crypto-Assets Regulation sets common rules for crypto firms across the European Union. Its transition period ends on July 1. After that, authorization becomes essential for legal access.
The European Securities and Markets Authority warned firms on Tuesday. It said providers without approval should take immediate action. Those steps include ending activity in the European Union.
Reuters reported that Binance also held talks with regulators in Ireland and Latvia. The report cited people familiar with the discussions. They said officials raised several concerns.
Those concerns included past anti-money laundering penalties. Regulators also reviewed Binance’s global corporate structure. They examined senior executive backgrounds and the company’s reported risk culture.
Lynch said Binance had invested heavily in compliance. She said the company now employs about 1,500 compliance staff. She also said there were no unresolved issues with the application.
She added that Binance had not received a clear reason for the delay. The company had expected a positive result in Greece. Lynch said the exchange still wants EU authorization.
Binance License Setback Could Hit Major EU Markets
Binance challenged earlier claims of wider regulatory resistance. On June 16, it disputed a Reuters report about possible rejection. The exchange said the Greek regulator had completed its review.
Binance said Greece’s Hellenic Capital Market Commission viewed the filing as MiCA compliant. The company said further ESMA-level review was still needed. That process remains central to its position.
The outcome matters because Binance has a large European user base. Reuters cited Sensor Tower estimates on app activity. Binance recorded more than 4 million EU app downloads last year.
France, Germany, and Spain made up the largest share of those downloads. Any licensing setback could affect access in major markets. The company has not announced an EU exit.
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