Binance is reportedly set to lose its EU operating license as its Greek MiCA application faces rejection. The crypto exchange claims compliance but may halt services across the bloc by month-end if denied.
The potential rejection of Binance's EU license could significantly impact the cryptocurrency market by forcing a major exchange to cease operations in a key regulatory region, potentially affecting market liquidity and competition.
Binance, the world's largest cryptocurrency exchange by daily trading volume, is reportedly facing the potential loss of its European Union operating license as its application in Greece is expected to be denied. Under the EU's Markets in Crypto-Assets (MiCA) framework, companies must secure approval to serve residents by the June 30 deadline. While reports suggest EU regulators are preparing to reject Binance's bid, the exchange stated that Greece's Hellenic Capital Market Commission (HCMC) had completed its review and considered the application compliant, subject to European Securities and Markets Authority (ESMA) review. If rejected, Binance could be forced to halt services for its EU customers by July 1. The exchange applied for its MiCA licensing in Greece in January.