In brief
Binance said Wednesday that it formally withdrew its Markets in Crypto Assets (MiCA) license application in Greece.
Instead, the crypto exchange will seek license approval via a different, as yet unannounced EU member state.
Some users may be impacted by the withdrawal, but Binance said all funds are safe and secure.
Leading crypto exchange Binance has formally withdrawn its Markets in Crypto Assets (MiCA) license application in Greece as it seeks compliance with EU crypto regulations, the firm announced on Wednesday.The firm’s announcement comes just one week after a Reuters report indicated its application was going to be rejected by the Greek finance regulator, HCMC. “Binance has decided to withdraw its MiCA licence application with the Hellenic Capital Market Commission (HCMC) in Greece and pursue authorization in another EU Member State,” the firm wrote on Wednesday. “Over many months, Binance worked constructively and in good faith with the HCMC,” it added, noting that because no response was given ahead of the July 1 deadline, it was “moving forward” in a way that benefitted its users.
