Binance Pulls EU License Bid in Greece — What European Crypto Users Need to Know

TLDR

• Binance withdrew its MiCA license application with Greek regulators (HCMC)
• The exchange will seek authorization in another EU member state
• Some users in Poland, Italy, Spain, and France have been told how to withdraw funds
• All services must be MiCA-licensed by July 1, 2026, or face penalties
• Binance says user funds remain safe and it expects to secure a new license “in the coming months”

Binance has pulled its application for an EU-wide crypto license in Greece and is now looking to get authorized in a different EU country. The move affects some European users and comes just days before a key regulatory deadline.

The deadline is July 1, 2026. That is when all crypto businesses operating in the EU must hold a license under the Markets in Crypto-Assets Regulation, known as MiCA. Without one, companies face penalties.

Binance had been working with Greece’s Hellenic Capital Market Commission for months. But with no formal decision reached before the deadline, the exchange decided to move on.

The company told CNBC it will “take the necessary steps before July 1 to remain compliant.” It also said it is confident it can secure a license in another EU member state within the coming months.

According to the Financial Times, Binance’s Greek application failed last week. The company now plans to apply in France, but any approval there is expected to come well after the July 1 cutoff.

Users in Four Countries Told How to Withdraw Funds

Customers in Poland, Italy, Spain, and France have received emails this week explaining how to withdraw money from the exchange. These are countries where Binance currently holds local licenses.

Binance said it is contacting all EU users to explain whether any action is needed, what options are available, and what the relevant timelines are.

The exchange stressed that user funds are safe and secure. It also warned users to watch out for scams, noting it will never contact customers by phone or ask for passwords or private keys.

Rivals Move Quickly to Attract Binance Users

Some EU-licensed competitors wasted no time responding. Eric Demuth, founder of Bitpanda, posted on X saying his company had “optimized for trust” from day one and encouraged Binance users to try his platform.

OKX founder Star Xu also posted about his company’s services on X.

Binance is the world’s largest crypto exchange by trading volume. It was founded in 2017 by Changpeng Zhao.

The company has faced serious legal trouble in recent years. In 2023, it pleaded guilty to money laundering charges and paid over $4.3 billion in penalties to U.S. authorities.

Zhao was sentenced to prison in 2024 for money laundering violations. He was later pardoned by U.S. President Donald Trump in 2025.

French officials also opened a judicial investigation into Binance last year over suspected money laundering. Binance denied those allegations.

Binance has been banned in the UK since 2021. The company said its commitment to Europe has not changed and it still supports the MiCA framework’s goal of creating consistent crypto rules across the EU.

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