Greece’s regulator is preparing to reject Binance’s license application under the EU’s MiCA rules just days before the July 1 deadline. The exchange is now exploring an alternative route through France. Tether’s USDT has already been removed from several licensed EU platforms.
The July 1 deadline under Europe’s Markets in Crypto-Assets regulation is forcing crypto firms to secure authorization or risk losing access to EU users. Only 194 of more than 3,000 companies operating in the region have obtained licenses so far.
Binance applied for a MiCA license in Greece earlier this year after setting up a local holding company in Athens. Reuters reported that the Hellenic Capital Market Commission is preparing to reject the application. Industry observers have raised claims that European Central Bank President Christine Lagarde may have influenced the process, though neither the ECB nor Greek authorities have confirmed any intervention.
Binance Co-Chief Executive Richard Teng said the firm remains committed to obtaining authorization under a “clear, fair, and harmonized” framework. The company already holds a digital asset service provider registration in France and is pursuing a full MiCA license there as a backup.
Tether, the issuer of the largest stablecoin, has declined to seek EU approval for USDT. Several major exchanges have removed or restricted the token for European customers, while Circle’s USDC remains available on licensed platforms.
