Binance submitted a formal application to operate under the European Union’s new Markets in Crypto-Assets (MiCA) regulation, selecting Greece as its regulatory foothold ahead of the framework's implementation later this year, the exchange confirmed on Friday.

The crypto exchange told CoinDesk that it filed its application with the Hellenic Capital Market Commission (HCMC), the national authority overseeing securities and crypto-asset service providers.

“We have submitted our MiCA application and are actively engaging with the Hellenic Capital Market Commission (HCMC),” a Binance representative said in a statement. “We see MiCA as a positive and important milestone for the industry — one that brings greater regulatory clarity, stronger user protections, and a clear framework for responsible innovation. We welcome the opportunity to work closely with the HCMC as this new regulation takes shape in the EU and look forward to contributing to the long-term growth of Europe’s digital financial ecosystem.”

The move follows Binance’s incorporation of a local holding entity in Greece called Binary Greece. According to its articles of association, the company will focus on acquiring and managing equity participations across the region and providing financial advisory services.

Binance’s application is being reviewed under a fast-track process initiated by the HCMC, which has enlisted five global advisory firms, including PwC, Deloitte and KPMG, to assist with the licensing review.

The Greece filing marks a critical step in Binance’s broader effort to reestablish itself in regulated markets after a tumultuous 2023, during which the company paid a $4.3 billion settlement to U.S. authorities and exited several European jurisdictions. CEO Richard Teng has publicly indicated Binance’s long-term ambition to reenter the U.S. market, emphasizing compliance as a central priority.