Binance, the world’s largest cryptocurrency exchange, is poised to lose legal access to the European Union market next month after its application for a key regulatory license under the bloc’s new MiCA framework was reportedly rejected.
Sources familiar with the matter told Reuters that Greece’s Hellenic Capital Market Commission (HCMC) is expected to turn down the application, which was submitted through the Greek regulator.
Under the Markets in Crypto-Assets (MiCA) rules, crypto firms must obtain authorization from at least one EU member state by the end of June 2026 to continue serving clients across the entire 27-nation bloc. The license functions as a regulatory “passport” for cross-border operations.
The anticipated rejection marks a major regulatory setback for Binance, raising fresh uncertainty about its future in one of the world’s largest financial markets. If formally denied, the exchange would be forced to halt services to EU clients starting in early July. In response to the Reuters report, Binance said it is committed to “support an orderly process and minimise disruption to our users.”
The company, which serves approximately 300 million customers globally, emphasized that it has worked closely with regulators over the past 18 months and believes it has met all necessary requirements for approval.
“HCMC has given no formal indication of the contrary,” a Binance spokesperson said, adding that the authority had completed its review and deemed the application compliant. The company plans to issue a further update before the June 30 deadline.
Earlier this year, Binance co-CEO Richard Teng identified Greece as the preferred hub for the firm’s European operations, citing the country’s skilled workforce and security advantages.
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