Binance Withdraws MiCA License Application in Greece Days Before Deadline After Regulators Flag Compliance Issues

Binance withdrew its application for a Markets in Crypto-Assets license in Greece last week after months of discussions with regulators, CoinDesk reported. The move came days before the July 1, 2026 deadline and prompted the exchange to notify affected users less than 10 days in advance.

Binance informed clients in several EU countries by email that it would suspend some services and stop accepting new registrations until further notice.

Said the company had been told in April 2026 that its application was complete and had expected authorization in early June. Lynch said board meetings were repeatedly postponed before the withdrawal. She stated that nothing material was outstanding and that she had been told the opposite of any compliance problems.

The exchange has invested more than $300 million a year in compliance and employs more than 1,500 compliance staff globally, Lynch said. Lynch argued that MiCA’s success should be measured by how many firms it brings inside the regulated market rather than by the existence of rules alone.

She supports a system in which national regulators grant licenses while the European Securities and Markets Authority plays a larger supervisory role over the largest firms.

CoinDesk reported that the Wall Street Journal said ESMA privately advised national regulators to disapprove Binance’s applications over financial-crime compliance issues. Lynch said the reporting mischaracterizes how the accounts were handled and that Binance offboarded the accounts and reported them to law enforcement once complex patterns were identified.