<\/p>\n
Crypto exchange Binance reportedly plans to seek a different route to authorization in the European Union after its licensing application in Greece encountered a setback.<\/p>\n
Speaking to Reuters, Gillian Lynch, Binance\u2019s head of Europe and the United Kingdom, said<\/a> the exchange is “not leaving Europe\u201d and would pursue authorization in another EU jurisdiction if its application in Greece does not move forward.<\/p>\n Lynch said Binance contacted other regulators but submitted a formal application only in Greece. The exchange reportedly held talks with Ireland, Latvia and Greece but encountered resistance over its past money-laundering penalties, international structure and what officials viewed as a risk-taking culture.\u00a0<\/p>\n Binance has days to secure authorization before the Markets in Crypto-Assets Regulation (MiCA) transitional period ends on July 1, a key deadline for crypto firms seeking to operate across the EU. The European Securities and Markets Authority (ESMA) said<\/a> on Tuesday that crypto service providers that remain unauthorized by the deadline must take “immediate” steps to wind down their EU activities.<\/p>\n On June 16, Binance pushed back against a Reuters report<\/a> that EU regulators were preparing to reject its MiCA application<\/a>, saying Greece’s Hellenic Capital Market Commission had reviewed the application and considered it compliant, subject to further review by ESMA. The exchange said at the time that it expected the process to advance toward authorization.<\/p>\n Binance told Cointelegraph it would provide additional information but had not done so by publication.<\/p>\n On Monday, CryptoQuant analyst Maartunn told Cointelegraph that euro-denominated pairs account for about 1% of Binance’s global spot trading volume<\/a>, suggesting that a European licensing setback may have a limited effect on the business.<\/p>\n Source: CryptoQuant<\/em><\/p>\n However, Binance remains a significant trading venue for European users, handling between about $100 million and $250 million in daily euro-pair volume in 2026, with occasional spikes of about $600 million.\u00a0<\/p>\n Binance held an estimated 18.5% share of euro-denominated spot trading during the year, placing it second behind Kraken’s 43.3% share, according to CryptoQuant’s data.<\/p>\n Binance\u2019s licensing difficulties could also affect token issuers, as authorized exchanges increasingly prepare and notify MiCA white papers for assets they list.<\/p>\n In a LinkedIn post, Ryan King, creator of the EU Crypto Register, said<\/a> at least 380 of 867 white-paper entries he tracked were notified by third parties rather than token issuers. He said Kraken, LCX, OKX and Bitstamp accounted for 271 notifications, or about 31% of the total.<\/p>\nMiCA deadline puts Binance\u2019s European reach at risk\u00a0<\/h2>\n
Exchanges emerge as MiCA compliance gatekeepers<\/h2>\n