Binance withdraws MiCA license application in Greece amid EU regulatory pressure, faces UK lawsuit from 1,700 investors over unregulated products, while expanding into Philippines.
Regulation & Gov ·
Binance has withdrawn its Markets in Crypto-Assets Regulation (MiCA) license application in Greece, a move that reflects mounting regulatory pressure across the European Union. Separately, a group of 1,700 UK investors has filed a lawsuit against the exchange, claiming it offered unregulated products and failed to provide adequate client protection, resulting in alleged financial losses to the claimants.
The withdrawals and legal action underscore intensifying scrutiny of Binance's compliance posture in developed markets. EU regulators have tightened requirements for crypto platforms under MiCA, and the UK lawsuit represents a coordinated effort by retail investors to hold the exchange accountable for operational gaps during a period of lighter regulatory oversight.
Meanwhile, Binance is pursuing expansion in the Philippines, where it has received SEC approval for Blockshoals Technologies to test financial products linked to the platform. The timing of this geographic diversification—concurrent with regulatory setbacks in Europe and North America—suggests the exchange is rebalancing its operational footprint toward less-regulated jurisdictions. The full scope of regulatory actions pending against Binance and their potential impact on its licensing status in other key markets remains unclear.