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Top global crypto exchange, Binance, has officially withdrawn its MiCA license application from Greece’s Hellenic Capital Market Commission on Tuesday, stating that it will seek regulatory approval in a different EU member state after the process with the Greek regulator failed to reach a decision before the MiCA deadline.
The exchange announced this move in a post on its official X account, and has explained the reasons for the withdrawal in a blog post. The Binance announcement claimed that the exchange reviewed where the application to the Greek body stood and came to a conclusion that the current timeline no longer served its users.
CEO Richard Teng addressed European customers directly on X in a post which said, “We remain committed to securing a MiCA license in the coming months, while providing clarity, minimizing disruption, and keeping users informed directly.” He added that customer funds “remain safe and secure.”
To our European users: we understand regulatory uncertainty can be frustrating.
We remain committed to securing a MiCA licence in the coming months, while providing clarity, minimising disruption, and keeping users informed directly.
Your funds remain safe and secure. For… https://t.co/gIZUZ7KPhi
— Richard Teng (@_RichardTeng) June 24, 2026
Binance’s reasons for withdrawal
As part of the MiCA regulatory transition which commenced in late 2024, Binance submitted a licensing application to Greece’s Hellenic Capital Market Commission (HCMC). However, by the time the transition period expired, the exchange had neither received formal approval nor secured a license from the regulator.
Binance said in its blog post that the months of engagement with the HCMC were “constructive and in good faith,” however, the top exchange has chosen to redirect its efforts toward a jurisdiction that would give faster clarity on licensure requests. The company has not named the replacement EU country for the MiCA talks, stating that the new jurisdiction will be announced “when ready.”
Europe still a priority, Binance says
The exchange had reiterated that its pullback from Greece does not signal a retreat from the EU market in its entirety. Binance said it supports MiCA’s objective of building a unified regulatory framework and expects to obtain authorization from another member state “in the coming months,” according to both the blog post and Richard Teng’s X post.
The move leaves Binance without an active MiCA application in any publicly identified jurisdiction at a time when competitors including Coinbase, Kraken, and OKX have put in significant efforts to advance the acquisition of their own European licenses.
Are Binance users in Europe safe?
Some Binance users in Europe may face account-level changes depending on their country of residence and current account status, the company further explained. The exchange has said it will reach out to all affected customers through email and in-app notifications with details on required actions, the user’s options, and any relevant deadlines.
Binance has also extended a word of caution to users to ensure they verify communications carefully, warning that it will never initiate phone calls or request passwords, two-factor authentication codes, or private keys. CEO Richard Teng also reiterated in his X post that all user funds are “safe and secure.”
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