New entrants want to change EU crypto regulations before the MiCA deadline | US Crypto News

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Brew a cup of coffee and XEM on the news – Binance is quietly making new strides in a small corner of Europe that could change the way the crypto world operates across the continent.

Crypto news of the day: Binance enters the Greek market late but with big ambitions.

According to Fortune magazine, Binance has officially applied for a European MiCA license through its new subsidiary in Greece, called Binary Greece.

This move helps Binance fully comply with the Markets in Crypto-Assets (MiCA) regulatory framework ahead of the crucial July 1, 2026 deadline. After this date, unlicensed crypto platforms risk being restricted or barred from providing services to users in the EU and EEA .

“Providers of crypto asset services that were operating legally before December 30, 2024, may continue to offer services until July 1, 2026, or until approval or refusal of licensing under Article 63, whichever comes first,” according to the European Securities and Markets Authority .

Binance's decision to choose Greece as its licensing location, instead of Capital crypto-friendly places like Malta or Luxembourg, was a rather unexpected strategic move.

With a registered Capital of just 25,000 EUR (approximately 30,000 USD) and a single-member joint-stock company model, Binary Greece demonstrates Binance's long-term commitment to building a strong foothold in Europe.

While the Greek government wasn't previously known for its fast licensing process, it offers a streamlined review process and a less competitive legal environment. As a result, the country is gradually attracting crypto activity and emerging as a new hub for the industry.

MiCA – which came into effect in 2023 – provides a unified legal framework for all 27 EU member states and EEA countries , equivalent to approximately 450 million potential users.

Once licensed by any member country, exchanges will be allowed to expand their services across Europe without having to re-register separately in each country. This significantly reduces compliance costs for businesses.

For Binance, owning a MiCA license will open the door to operations across Europe, including trading, custody, and the issuance of legal stablecoins. At the same time, this also helps overcome the difficulties previously encountered in some countries such as France .

Keeping up in a crowded market: Binance's MiCA compliance race.

Many other large exchanges have now received MiCA licenses or equivalent CASP licenses, such as:

• Kraken via Ireland
• Coinbase via Luxembourg
• Bybit EU via Austria
• OKX in Malta
• Crypto.com, Bitpanda, and Gemini.

These licenses enable exchanges to operate smoothly across the EU and give them a competitive edge in the new regulatory environment.

Although Binance filed its application later, its advantages in scale and operational experience allowed it to quickly catch up with competitors and regain market share in Europe after a period of restricted operations.

The subsidiary in Greece was established indefinitely, demonstrating Binance's intention for a long-term presence, rather than just a temporary solution.

The July 2026 deadline will put significant pressure on Binance, as well as other international companies, to provide services such as:

• Issuing stablecoins
• Trading services on the exchange, and
• Regional asset custody

Several EU countries, such as France, Italy, and Austria, have also expressed concerns about MiCA's passporting mechanism (the right to operate across borders).

These countries argue that regulatory control should be more centralized in the hands of the European Securities and Markets Authority (ESMA). However, changing the framework at this time would cause significant disruption.

Even if approved, Binance's move would not make the company an exception to the licensing requirement, but rather bring it into a competitive market already compliant with MiCA.

Nevertheless, this move helps Binance overcome a significant regulatory hurdle, boost its credibility, and expand its operations effectively across Europe at a lower cost.

With Binary Greece, Binance is making a strategic bet on both the EU market and Greece's nascent crypto ecosystem.

Alpha is concise.

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