Decrypt·5h ago·negative

Binance Withdraws MiCA License Bid in Greece, Seeks Approval Elsewhere in EU

Binance pulled its MiCA license application in Greece after reports it would be denied, and will seek authorization in another EU member state before the July 1 deadline. Some EU users may be affected but funds are safe.

Binance formally withdrew its MiCA application with Greece's HCMC regulator one week after reports it would be rejected.
The exchange will pursue authorization in another EU member state, though it has not named which one.
EU crypto firms must hold a MiCA license by July 1 or risk being forced to cease operations in the region.
Binance says it is contacting EU users directly about next steps and that all funds remain safe.
The withdrawal is a setback for Binance's European ambitions, but the firm says it remains committed to the region.

regulationexchangeImpact 7/10

Why our editor rated this negative

Regulatory setback for a major exchange in a key market creates uncertainty for EU users. However, Binance is actively seeking an alternative path, which softens the blow slightly.

Read the full story at Decrypt

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