Binance ready to choose another EU country for MiCA license
Crypto exchange Binance may change its route to obtaining a license in the European Union after its application in Greece ran into difficulties. This was announced by Gillian Lynch, Binance’s head of Europe and the United Kingdom.
According to her, the exchange is “not leaving Europe” and, if the process in Greece does not move forward, the company will seek authorization in another EU jurisdiction, Reuters reported.
Lynch noted that Binance had contacted several regulators but submitted a formal application only in Greece. The exchange also held talks with Ireland and Latvia. However, regulators raised concerns over Binance’s past money-laundering penalties, its international structure and its approach to risk.
Time is running out
For Binance, the situation is complicated by the MiCA deadline. The transitional period for crypto companies in the EU ends on July 1. After that date, crypto service providers that have not received authorization must begin winding down their activities in the region.
Binance previously denied reports that European regulators were preparing to reject its application. The company said Greece’s Hellenic Capital Market Commission had reviewed the documents and considered them compliant with the requirements. However, the process still needs to undergo additional review by ESMA.
Even if Binance faces problems in Europe, the impact on its global business may be limited. According to CryptoQuant analyst Maartunn, euro trading pairs account for about 1% of Binance’s global spot trading volume.
Nevertheless, the exchange remains an important platform for European users. In 2026, Binance’s daily trading volume in euro pairs ranged from about $100 million to $250 million, rising to $600 million on some days.
According to CryptoQuant, Binance held about 18.5% of the euro-denominated spot trading market. That put it in second place behind Kraken, whose share was estimated at 43.3%.
How the MiCA license works
MiCA introduces unified rules for crypto companies in the European Union. If an exchange receives authorization in one EU country, it can use that license to operate in other countries of the bloc. This mechanism is known as “passporting”: a company is reviewed by one national regulator and then gains access to the broader European market.
For Binance, this is especially important because a license in one jurisdiction would allow it to maintain a legal presence in the EU after the transitional period ends. Without authorization, the exchange would have to restrict or wind down some services for European users until it receives approval from one of the regulators.
As a reminder, it recently became known that Binance could lose the ability to operate in the EU.
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