Binance, the world’s largest cryptocurrency exchange, has selected Greece as the base for its European operations.

According to Fortune, Binance has officially submitted an application to the Hellenic Capital Market Commission for an operating licence under the Markets in Crypto-Assets (MiCA) regulatory framework. At the same time, the company is proceeding with the establishment of a Greek holding company.

A Binance representative confirmed, according to the report, that the company has applied for a MiCA licence in Athens and is currently in discussions with the Capital Market Commission. The spokesperson added that Binance views the MiCA framework as providing regulatory clarity and a clear structure that supports innovation in the crypto-assets sector.