Binance is now counting on France as its final chance to secure a Markets in Crypto-Assets (MiCA) license after its application in Greece reportedly collapsed ahead of the European Union’s June 30 deadline. According to a report by The Big Whale, European Central Bank President Christine Lagarde played a key role in blocking the Greek bid, despite Binance having cleared most regulatory hurdles. Sources indicate that political concerns about stablecoins and the exchange’s influence in Europe’s crypto sector derailed the process.
The setback intensifies pressure on the world’s largest crypto exchange as MiCA’s transition period nears its end. Under the new EU framework, crypto firms must obtain authorization from a member state regulator by June 30 to continue serving customers across the bloc via the passporting system. If Greece fails to approve, that route becomes unavailable, leaving France as the only jurisdiction capable of issuing authorization within the required timeframe.
Discussions between Binance and France’s financial regulator, the Autorité des Marchés Financiers (AMF), are ongoing, though no formal application has yet been submitted. Binance has stated that its application met MiCA requirements and warned approval delays could reduce liquidity, limit competition, and push activity outside the EU. The exchange emphasized its commitment to Europe and plans to provide updates before the deadline. This latest hurdle adds to a series of licensing challenges Binance has faced globally, including in the Philippines where regulators flagged missing licenses.