Greece Enters EU’s MiCA Register for First Time with Four Providers as HCMC Denies Binance-Lagarde Intervention
For the first time, Greece has entered the European Union’s MiCA crypto regulatory register with four providers: BCash, Xenios Blockchain Group, Capital Wallet Greece, and Piraeus Bank, as updated by the European Securities and Markets Authority (ESMA). Meanwhile, Binance, the world’s largest crypto exchange by volume, withdrew its application for Greek authorization, leading to media reports alleging intervention by European Central Bank President Christine Lagarde. The Hellenic Capital Market Commission (HCMC) denied these claims, asserting no official communications occurred with the ECB or Greek government regarding Binance’s application.
Greece’s First MiCA Registrations
Four Greek crypto-asset service providers — BCash, Xenios Blockchain Group, Capital Wallet Greece, and the major lender Piraeus Bank — were added to the European Securities and Markets Authority’s (ESMA) Markets in Crypto-Assets (MiCA) register in the update released on Thursday. Alongside them, six additional providers from Germany, France, and Slovenia were registered, bringing the total count to 359 unique entities. This marks Greece’s inaugural entries into the EU’s formal crypto regulatory framework under MiCA.
Binance’s Withdrawal and Reports of ECB Intervention
Binance, the world’s largest crypto exchange by trading volume, could have been Greece’s first MiCA-authorized provider, which would have enabled it to operate EU-wide under MiCA’s passport system. However, the exchange withdrew its application on June 24 prior to any formal decision by the Hellenic Capital Market Commission (HCMC). Nearly three months later, the Wall Street Journal reported that European Central Bank President Christine Lagarde intervened to block Binance’s Greek MiCA application. According to the report, an HCMC vice chair allegedly informed Binance that Lagarde had requested Greek Prime Minister Kyriakos Mitsotakis to deny approval.
HCMC’s Broad Denial of Allegations
In a written statement to Cointelegraph, the HCMC categorically rejected the attributed comments and reported claims. The regulator insisted that no official made these statements or communicated with the ECB on Binance’s application. It also stated that there had been no communication regarding Binance from the Greek prime minister, his office, the Finance Ministry, or any other government entity. When specifically asked whether this denial extended to the vice chair’s purported remarks to Binance, HCMC confirmed it did.
Division of Regulatory Authority between HCMC and Bank of Greece
Greece’s MiCA registrations illustrate how the country divides crypto oversight between two bodies: the HCMC and the Bank of Greece. The HCMC is designated as the competent authority overseeing BCash, Xenios Blockchain Group, and Capital Wallet Greece, while the Bank of Greece holds this role for the Piraeus Bank. This distribution reflects Greece’s MiCA implementation strategy, which allows EU member states to assign multiple competent authorities and split regulatory responsibilities accordingly.
Why it matters
Greece’s first MiCA registrations represent a milestone in the nation’s adoption of the EU’s unified crypto regulatory framework, enhancing oversight and market confidence. Binance’s withdrawal and ensuing reports of political interference attracted significant attention, but the HCMC’s firm denial clarifies the political backdrop and reaffirms the independence of the national regulator. The division of authority between HCMC and the Bank of Greece illustrates MiCA’s flexibility and multi-layered regulatory structure tailored to member states’ domestic contexts, a critical aspect for market participants and investors navigating the evolving European crypto landscape.
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