Greece welcomes first MiCA-authorised crypto providers as regulator denies Binance claim

Stay connected to Greek City Times for Free on Google News
Click NOW

Greece has entered the European Union’s crypto regulatory framework with four providers appearing on the EU’s MiCA register, as Greek authorities reject reports that European Central Bank President Christine Lagarde intervened to block Binance’s regulatory application.

The European Securities and Markets Authority (ESMA) added four Greek providers to its Markets in Crypto-Assets (MiCA) register: BCash, Xenios Blockchain Group, Capital Wallet Greece and Piraeus Bank.

The additions mark the first Greek entries on the EU’s crypto regulatory register.

Six other crypto-asset service providers from Germany, France and Slovenia were also added in the latest update, bringing the register to 359 unique providers.

Greece splits crypto oversight between two regulators

The new Greek entries highlight how responsibility for crypto regulation is divided between the Hellenic Capital Market Commission (HCMC) and the Bank of Greece.

The HCMC is listed as the competent authority for BCash, Xenios Blockchain Group and Capital Wallet Greece.

Piraeus Bank, meanwhile, falls under the supervision of the Bank of Greece.

The division reflects Greece’s implementation of the EU’s MiCA framework, which allows member states to designate more than one competent authority for crypto-asset services.

MiCA provides a harmonised regulatory framework across the European Union and allows authorised providers to offer eligible services across the bloc through its passporting system.

Binance withdrew Greek application

The development comes amid renewed attention on Binance and its previously planned MiCA authorisation in Greece.

Binance, the world’s largest cryptocurrency exchange by trading volume, had applied for authorisation through the Greek regulator.

The approval would have allowed the exchange to use Greece as a base for offering regulated services across the EU under MiCA’s passporting system.

However, Binance withdrew its application on June 24, before the HCMC issued a formal decision.

A subsequent Wall Street Journal report claimed that Lagarde had intervened to prevent the application from being approved.

The report, published on September 18, said an HCMC vice chair had allegedly told Binance that Lagarde had asked Greek Prime Minister Kyriakos Mitsotakis not to approve the application.

The HCMC has now categorically denied that account.

Greek regulator rejects reported Lagarde intervention

In a written response to Cointelegraph, the HCMC said none of its officials made the statements attributed to them.

The regulator also said it had received no communication concerning Binance’s application from Mitsotakis, his office, the Finance Ministry or other Greek government officials.

“HCMC categorically rejects the assertions attributed to it,” the regulator said.

It added that no HCMC official had communicated with any ECB official about the Binance application and that none of the reported statements had been made by the commission or its officials.

Asked specifically whether the denial included the allegation involving an HCMC vice chair, the regulator confirmed that it did.

Binance previously declined to address the reported intervention, saying it would not comment on speculation while reiterating its commitment to obtaining MiCA authorisation in Europe.

The ECB also declined to comment on the report.

Mitsotakis’ office did not respond to a request for comment, according to Cointelegraph.

The arrival of Greece’s first MiCA-registered providers marks a new stage in the country’s participation in the EU’s unified crypto regulatory framework, while the circumstances surrounding Binance’s withdrawn application remain disputed.

Stay updated with the latest news from Greece and around the world on greekcitytimes.com.
Contact our newsroom to share your updates, stories, photos, or videos. Follow GCT on Google News and Apple News.