Why Binance MiCA license plans put Greece at the center of its EU expansion

Greece emerges as Binance’s European base

At a time of intensifying crypto regulatory debates, the binance mica strategy is putting Greece in the spotlight as a potential long-term hub in the European Union.

Binance co-CEO Richard Teng has explained why the exchange chose Greece as the jurisdiction where it is seeking its first MiCA license in the European Union. Speaking at the GFTN Forum in Tokyo, he said the team weighed broader criteria than just the legal text of MiCA when selecting a European base.

“The license is pretty standard throughout Europe, so we have to think through many other factors, whether it is social, whether it is talent pool, safety and security issues,” Teng said. “Greece is where we think will be a good base for us to expand in Europe.” However, he did not disclose when he expects the process to conclude.

Why Binance picked Greece over more established hubs

Greece has yet to issue its first MiCA license, compared with 45 in Germany and 22 in the Netherlands, according to regulator data. That makes the company’s choice notable, as other large exchanges have favored jurisdictions with more established approval pipelines and longer track records.

Some observers in the Baltic fintech community had expected Latvia or Lithuania to be shortlisted. Moreover, Baltic states are often seen as agile licensing hubs for digital assets and payments. However, Greece’s economic resilience, larger and more diversified talent pool, and rising profile among international businesses may offer distinctive benefits for firms planning substantial EU operations.

For Binance, applying in Greece reflects a broader effort to secure a stable regulatory base within the EU rather than simply following the path of least resistance. That said, the exchange only submitted its application in Greece last month, so the timing of a decision remains uncertain.

MiCA passporting and the future of EU oversight

Under MiCA’s passporting regime, once a firm secures authorization in one member state, it can operate across all 27 EU countries. As a result, the physical location of the license could matter less over time for day-to-day operations, even if it remains symbolically important for market positioning.

If supervision of major players becomes more centralized at the European level, oversight might gradually extend beyond the country that granted the initial license. Discussions are already underway about a bigger role for institutions such as ESMA in coordinating EU financial supervision of large crypto-asset service providers.

Within this context, the binance mica license application in Greece can be seen as a first step in a longer regulatory journey. However, any future shift toward more direct European-level supervision would likely affect all systemically important platforms, regardless of where their MiCA authorization was first issued.

Regulatory context and Binance’s compliance push

Teng said the timing of MiCA approval will ultimately depend on EU and national authorities. Since taking over as co-CEO in November 2023, he has repeatedly emphasized crypto regulatory alignment after a period of high-profile legal challenges for the exchange.

These challenges included a $4.3 billion settlement with U.S. authorities related to anti-money laundering violations under former CEO Changpeng Zhao. Moreover, that case increased pressure on the company to demonstrate stronger internal controls and closer cooperation with regulators in major jurisdictions.

Teng stated that Binance does not serve residents of sanctioned countries. He added that the company has strengthened its compliance framework, while acknowledging that suspicious blockchain transactions can never be eliminated entirely from a global platform.

Responding to scrutiny over historical transactions

Recent media investigations have raised questions about historical crypto transfers involving Iranian and Russian actors. Teng described those reports as misleading and argued that they did not accurately reflect the platform’s current compliance posture.

He said the employees cited in those stories were dismissed for breaching internal data policies, rather than for facilitating prohibited flows. However, the renewed scrutiny underscores how closely regulators and journalists are monitoring large exchanges as MiCA and other regimes tighten requirements.

Against this backdrop, Binance is presenting its European licensing push as part of a broader culture shift. Moreover, senior executives repeatedly highlight investments in monitoring, know-your-customer controls, and risk systems as evidence of a more mature approach.

Positioning ahead of MiCA’s 2026 deadline

With the July 2026 deadline approaching, obtaining an EU license has become critical for every crypto exchange that wants uninterrupted access to the bloc’s retail and institutional markets. All crypto firms operating in the EU must secure MiCA authorization by that date to continue offering services legally.

Although approval is granted at the national level, larger exchanges may face closer coordination with European authorities as supervisory frameworks evolve. That said, firms with significant cross-border activity will likely be among the first to experience tighter, more harmonized oversight.

For Binance, the binance mica pathway in Greece is designed to position the company for that future, with an emphasis on talent, security and long-term regulatory engagement. Moreover, if MiCA develops as planned, Greece could become a strategic gateway for the exchange’s operations across all 27 EU member states.

In summary, Binance’s decision to anchor its MiCA efforts in Greece combines regulatory planning with a bet on the country’s workforce, security environment and growing fintech profile, as Europe moves toward full implementation of its landmark crypto framework by 2026.