Greece Joins ESMA MiCA Register With Four Crypto Firms

Four crypto firms now appear under Greece in the European Securities and Markets Authority’s register of authorized crypto-asset service providers, the country’s first entries in the list, Thenewscrypto reported. The firms are BCASH, Xenios Blockchain Group, Capital Wallet Greece and Piraeus Bank.

The register update was published on September 24 and was described as a new development for Greece on September 29, according to Thenewscrypto. Separately, Crypto.news reported that ESMA’s 2027 work program, published Monday, sets out how the regulator intends to supervise licensed providers under the Markets in Crypto-Assets Regulation.

Key facts

• BCASH was authorized on June 30 to provide crypto-to-fiat exchange services, and the Hellenic Capital Market Commission is listed as its competent authority.
• Xenios Blockchain Group and Capital Wallet Greece were both authorized on July 22; Xenios can receive and transmit crypto-asset orders, while Capital Wallet Greece covers custody, crypto-to-fiat and crypto-to-crypto exchanges, order execution and crypto transfers.
• Piraeus Bank was authorized on August 7 by the Bank of Greece for custody and administration of crypto-assets, order execution, reception and transmission of orders, and crypto-asset transfers.
• ESMA’s latest update added 10 crypto-asset service providers from several EU countries, bringing the register to 359 unique providers, per Thenewscrypto. Crypto.news reported the register had reached 300 providers in early July after 57 firms gained authorization, including Standard Chartered and FalconX.
• ESMA’s supervisory findings will feed into the European Commission’s MiCA review, expected by June 2027, and the first phase of its MIDAS market surveillance system is expected to become fully operational in 2027.

Authority split in Greece

Greece has divided MiCA oversight between its financial-market regulator and its central bank, according to Thenewscrypto. The Hellenic Capital Market Commission is the competent authority for BCASH, Xenios Blockchain Group and Capital Wallet Greece, while the Bank of Greece handles Piraeus Bank.

MiCA sets common rules for crypto-asset services across the EU covering authorization, supervision, transparency and disclosure. Greece completed its first MiCA authorizations earlier this year, giving locally authorized firms a regulatory route to offer permitted services.

ESMA shifts from rulemaking to supervision

ESMA Chair Verena Ross told the European Parliament’s Committee on Economic and Monetary Affairs that the authority’s MiCA work had moved “from rulemaking towards supervision and convergence,” Crypto.news reported, adding that she said innovation should flourish inside a framework that gives firms clarity, investors safeguards and markets confidence.

For 2027, ESMA will concentrate on operational resilience, outsourcing risks, liquidity, reverse solicitation, crypto-asset classification and whether firms maintain sufficient operations inside the EU rather than relying on functions or infrastructure based elsewhere. It plans common risk indicators and supervisory dashboards for national authorities, and the second phase of MIDAS, scheduled for the fourth quarter of 2027 subject to board approval, is intended to add analytical capabilities and new data types.

That supervisory push follows the expiry of the final MiCA transition period on July 1. Crypto.news reported that only 281 of 1,343 crypto service providers across the European Economic Area had secured authorization by the deadline, and that data cited in an August report showed 12% of unauthorized firms carried High or Severe risk ratings versus 2% of authorized providers. Unauthorized firms had sent $5 billion directly to sanctioned counterparties, compared with roughly $1.7 billion for authorized ones.

Why it matters

The Greek entries give locally licensed firms the ability to use MiCA passporting rights to offer covered services in other member states, and they mark the end of Greece’s earlier reliance on national registrations. They also land in the same week ESMA published its 2027 priorities, so the four firms are entering a supervisory regime that is tightening rather than loosening.

Greece’s role in EU crypto licensing drew attention beyond the register itself. Crypto.news noted that Binance had missed the July 1 licensing deadline, withdrew its Greek application in June and served some EU customers through provisions including reverse solicitation, an area ESMA has flagged for 2027 attention. A BaFin official warned in September that centralizing authorization at an EU supervisor could burden firms and reduce flexibility, arguing national authorities keep knowledge of local markets.

What to watch

The European Commission’s MiCA review, expected by June 2027, will absorb ESMA’s supervisory findings and could shape any follow-on legislative proposal. Ahead of that, watch whether additional Greek providers are added to the register and how ESMA’s MIDAS phase one performs once fully operational.

Nothing here is financial advice, and crypto markets are volatile and uncertain.

Disclaimer: This article is for information only and is not investment, financial or trading advice. Cryptocurrency prices are highly volatile. Always do your own research.

Sources: TheNewsCrypto, Crypto.news