Key facts
- Binance is reportedly seeking a MiCA license in France following a setback in Greece.
- ECB President Christine Lagarde is said to have opposed Binance's Greek application.
- The rejection in Greece could be politically motivated to strengthen the Digital Euro.
- Binance already has a DASP registration in France, allowing limited operations.
- Binance remains committed to obtaining a MiCA license and operating in the EU.
Binance is reportedly pursuing a pan-European Markets in Crypto-Assets (MiCA) license in France after its application in Greece encountered significant opposition, reportedly from ECB President Christine Lagarde. This move comes as Greece's Hellenic Capital Market Commission (HCMC) is poised to reject Binance's application, which could hinder its operations within the EU post-July 1 deadline.
The opposition to Binance's Greek application is suggested to be politically motivated, potentially aimed at limiting stablecoin liquidity channels and thereby strengthening the position of a future Digital Euro. Despite the setback, Binance has indicated its continued commitment to obtaining a MiCA license and operating within the EU's harmonized framework. The exchange already holds a digital asset service provider (DASP) registration with France's Autorité des marchés financiers (AMF), which permits certain limited operations such as custody and spot trading.
Binance applied for the MiCA license in Greece in January, establishing a local holding company in Athens. The exchange has stated it remains dedicated to its European users and aims to operate under the clear, fair, and harmonized MiCA regulations. Meanwhile, the price of BNB has seen a decline amid broader market selloffs and hawkish tones from the Federal Reserve.