Greece Adopts Stricter Licensing Regime
Greece has rolled out new, tougher rules for crypto businesses, making it significantly harder for exchanges and wallet providers to secure authorization. The Hellenic Capital Market Commission (HCMC) introduced the updated framework, aligning with the European Union’s Markets in Crypto Assets (MiCA) regulation.
The changes, already published in the Government Gazette, overhaul entry requirements for Greece’s crypto market. Applicants must now go through preliminary meetings with regulators, file detailed company dossiers, and present comprehensive business plans.
Closer Oversight of Platforms and Investors
Crypto companies will now need to disclose shareholder and management structures while also proving how they safeguard customers. The licensing process could take up to 40 working days, and missing documents will result in rejection.
Even major players like Binance will be required to comply with these rules to continue operating in Greece. Regulators argue the new framework offers a “European stamp of reliability” that could boost investor trust in approved platforms.
Anti-Money Laundering Frontline
Beyond licensing, Athens is determined to crack down on illicit crypto flows. The Hellenic Anti-Money Laundering Authority (HAMLA) and the Independent Public Revenue Authority (IAPR) will conduct real-time checks to trace suspicious transactions, verify fund origins, and freeze assets if needed.
Earlier this year, Greek authorities froze a wallet linked to the $1.5 billion Bybit heist, highlighting their readiness to act. Prime Minister Kyriakos Mitsotakis has also made his stance clear:
Tax Burden on the Horizon
Alongside stricter regulation, Greece is preparing to introduce hefty new taxes on crypto activities. A special task force has recommended a 15% tax on capital gains for private investors, with higher rates expected for companies.
Additionally, the government is considering a 24% value-added tax (VAT) on certain crypto-related services. The final figures are expected to be announced by Mitsotakis at the Thessaloniki International Fair next month.
Balancing Innovation and Compliance
For Athens, the new measures are about aligning with EU standards, curbing money laundering, and plugging tax loopholes. While crypto firms brace for tighter scrutiny and higher costs, the government insists the effort will provide clarity, credibility, and a safer environment for investors.
Whether these rules will deter global exchanges or attract more regulated players remains to be seen. But one thing is certain: Greece is no longer leaving its crypto market in the shadows.
