Greece adds first MiCA crypto providers as regulator rejects Binance intervention claim

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Greece adds MiCA crypto providers

Highlights

Greece's first four MiCA-registered crypto providers—BCash, Xenios Blockchain Group, Capital Wallet Greece, and Piraeus Bank—were added as the ESMA register reached 359 entities.
The Hellenic Capital Market Commission oversees BCash, Xenios Blockchain Group, and Capital Wallet Greece, while the Bank of Greece supervises Piraeus Bank, illustrating a split regulatory structure.
Binance withdrew its Greek MiCA application on June 24, and the Hellenic Capital Market Commission firmly denies any ECB intervention or communication from government officials regarding the application.

Greek MiCA entries and oversight structure

As reported by Cointelegraph, the European Securities and Markets Authority updated its Markets in Crypto-Assets register on Thursday to include four Greek providers, BCash, Xenios Blockchain Group, Capital Wallet Greece and Piraeus Bank.

Six other crypto-asset service providers from Germany, France and Slovenia were added at the same time, bringing the register to 359 unique providers. The Greek additions mark the country's first appearance on the EU-wide MiCA register and show how local supervision is divided between separate authorities.

The Hellenic Capital Market Commission is listed as the competent authority for BCash, Xenios Blockchain Group and Capital Wallet Greece, while the Bank of Greece is listed for Piraeus Bank. That split reflects Greece's implementation of MiCA, which allows member states to assign more than one competent authority and divide regulatory responsibilities across institutions.

Binance application dispute draws wider scrutiny

The milestone comes after Binance withdrew its Greek MiCA application on June 24 before the Hellenic Capital Market Commission issued a formal decision. A Greek authorization would have allowed the exchange to offer services across the EU under MiCA's passporting system.

The Wall Street Journal reported on Sept. 18 that European Central Bank President Christine Lagarde had intervened after Greek officials indicated the regulator intended to approve the application. In comments to Cointelegraph, the Hellenic Capital Market Commission says no official made the remarks attributed to it and that it received no communication about Binance's application from Prime Minister Kyriakos Mitsotakis, his office, the Finance Ministry or other Greek government officials.

The regulator says it categorically rejects the assertions attributed to it and that no Hellenic Capital Market Commission official has had any communication with any European Central Bank official on the matter. Asked whether the denial also covers the report that a vice chair made those remarks to Binance, the regulator says it does.

Binance previously declines to address the reported intervention, saying it will not comment on speculation while reaffirming its commitment to securing MiCA authorization in Europe. The European Central Bank also declines to comment, while Mitsotakis' office does not respond to a request for comment.

Our earlier article on European banks launching proprietary ETFs explained how lenders and investment platforms are rolling out in-house fund ranges to retain more of the management fees they would otherwise pay to third-party providers. We noted that the trend is being accelerated by white-label ETF infrastructure, and that it could increase competitive and margin pressure across passive investing as banks push own-brand products to large retail client bases.

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