Binance Eyes Fresh Regulatory Footing Binance is in discussions with regulators in multiple jurisdictions after receiving invitations to apply for new crypto licenses, following the collapse
Binance is in discussions with regulators in multiple jurisdictions after receiving invitations to apply for new crypto licenses, following the collapse of its attempt to secure authorization under the European Union's Markets in Crypto-Assets (MiCA) framework. Co-CEO Richard Teng confirmed the talks are at an early stage and declined to identify the countries involved.
The world's largest crypto exchange withdrew its MiCA license application with Greece's Hellenic Capital Market Commission (HCMC) on June 24, 2026, just days before the EU's July 1 regulatory deadline. Teng said the decision was taken to spare users a disruptive short transition period that would have followed any late-stage approval in Greece.
Under MiCA, a single license grants passporting rights for seamless operations across all EU member states. That made the Greek application a high-stakes bet: win once and Binance could serve clients across the entire 27-nation bloc. The gamble did not pay off. The withdrawal came seven days after a Reuters report, citing two sources close to the matter, stating that the HCMC was about to reject the application.
Binance's head of Europe, Gillian Lynch, said she expects the next licensing application not to take long, noting the company had already completed much of the regulatory process with the Greek authorities. She said Binance expected authorization in early June after being told in April that its application was complete, but board meetings were repeatedly postponed before the company decided to withdraw.
The move leaves Binance without an active MiCA authorization at a time when competitors including Coinbase, Kraken, and OKX have secured their own European licenses. Of more than 3,000 crypto firms operating across Europe, only around 210 received full MiCA authorization by the July 1 deadline, according to ESMA's interim register.
The Wall Street Journal reported that ESMA privately advised national regulators to disapprove Binance's MiCA applications, highlighting concerns over the exchange's ability to meet financial-crime compliance standards. Binance has disputed that account. Lynch said the coverage mischaracterizes how flagged accounts were identified, reviewed, and acted upon, adding that the exchange offboarded all relevant accounts and reported them to law enforcement. The exchange spends more than $300 million annually on compliance and employs over 1,500 compliance staff globally.
Despite the setback, Binance has been careful to frame the situation as a detour rather than a retreat. The exchange has not disclosed which EU jurisdiction it plans to target next but said it will make an announcement when plans are finalized. User funds, the company has repeatedly stressed, remain safe and accessible throughout the transition.
Sources:CoinDesk: Binance pushes back on reports that EU regulators tried to block itCoinDesk: Binance withdraws Greek MiCA bid but vows to remain in the EUEuronews: Binance to halt crypto services across EU after failing to secure MiCA approval
