Binance has formally pulled its Markets in Crypto-Assets (MiCA) license application in Greece, eliminating its current path to EU-wide regulatory authorization. The exchange has roughly one week to secure licensing in an alternative EU member state before its legal standing to operate across the bloc comes under pressure. Binance has publicly committed to staying in European markets and is reportedly identifying a backup jurisdiction to refile.
Binance is the world's largest crypto exchange by volume, and its regulatory limbo in the EU creates near-term uncertainty for crypto markets broadly. If Binance fails to secure an alternative MiCA license in time, European users could face service restrictions, triggering volume migration to competitors like Coinbase and Kraken — and potentially rattling confidence in BTC and ETH prices. A successful refile, by contrast, would be a neutral-to-positive resolution for the market.
Within ~7 days: Binance announces alternative EU jurisdiction filing. Ongoing: MiCA compliance deadlines rolling through 2025 for all crypto service providers.
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