Binance has moved to further establish its presence in Europe by filing for a MiCA license in Greece.
This move comes ahead of the July 1 deadline stipulated by EU authorities.
KuCoin also obtained a MiCA license in Austria, a sign of the latest trend among exchanges.
Binance has applied for an EU-wide Markets in Crypto Assets (MiCA) license, with the filing in Greece.
It is also setting up a local holding company in the country, under the name “Binance Greece.” This marks a significant step toward strengthening the crypto exchange’s regulatory standing in Europe.
Binance Moves to Secure MiCA Approval Ahead of July Deadline
Once the Hellenic Capital Market Commission approves Binance’s filing for the MiCA licence, the exchange would be allowed to operate and market crypto services across the EU ahead of the July 1 deadline.
Binance Greece, which is part of this latest business in Europe, has been incorporated as a single-shareholder public limited company with an initial share capital of €25,000.
Binance has applied for an EU-wide MiCA license, filing in Greece and setting up a local holding company. If approved by the Hellenic Capital Market Commission, the license would allow Binance to operate and market crypto services across the EU ahead of the July 1 deadline.…
The holding company’s primary activities will encompass acquiring and managing equity stakes in companies, both within Greece and abroad.
It also has the responsibility of providing advisory services, particularly those related to capital structuring, investment strategy, and liquidity management.
Binance’s Gillian Majella Lynch will lead the new company. Lynch joined the leading digital asset service provider less than a year ago as Head of Europe and the United Kingdom.
As a senior executive, she boasts several years of experience spanning banking, fintech, and crypto.
This means that it has the legal backing to offer its regulated services to residents of Austria as well as across the almost 30 other countries in the European Economic Area (EEA).
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Benjamin Godfrey is a blockchain enthusiast and journalist who relishes writing about the real life applications of blockchain technology and innovations to drive general acceptance and worldwide integration of the emerging technology. His desire to educate people about cryptocurrencies inspires his contributions to renowned blockchain media and sites.