What is the Hellenic Capital Market Commission?

If an exchange says it’s “regulated,” who checks what that actually means?

Think of the Hellenic Capital Market Commission as the referee for one part of the financial market: it makes sure the rules are followed and can impose sanctions, but it doesn’t guarantee that every participant will avoid losses. In crypto, its powers cover issuers and service providers under its supervision, such as businesses that exchange or hold crypto-assets in custody.

The European framework is Regulation (EU) 2023/1114 on markets in crypto-assets, known as MiCA. In Greece, Law 5193/2025, Part C, sets out the national supervisory powers and sanctions. The Commission isn’t the only competent authority: the Bank of Greece also has powers, depending on the entity and the activity, especially for banks and payment or e-money institutions.

Why it matters

If you use an exchange from Greece, the key question is which company is serving you and under which license. A properly licensed provider from another EU member state can offer services in Greece without a separate Greek license.

We insist on checking the exact legal entity and the services it’s authorized to provide in the MiCA register of the European Securities and Markets Authority (ESMA) and, where needed, in the national register. A brand name or a logo on a website isn’t enough.

If you hold or trade crypto solely on your own account, that alone doesn’t require a license from the Commission. The relevant rules still apply, though, such as the ban on market manipulation.

What to watch out for

Supervision doesn’t mean your money is guaranteed. MiCA provides for disclosure obligations and complaint procedures, but it doesn’t eliminate the risk of loss, nor does it generally offer the compensation protection that some traditional investments have.

Taxation is a separate matter: MiCA doesn’t determine how your gains are taxed in Greece. Keep a record of your transactions and get personalized tax advice.

If someone invokes the Commission and asks for an upfront payment to “unlock” crypto, treat it as a serious sign of a scam. Verify the claim using contact details you find independently, not the ones the person sent you.