Binance, the world’s largest crypto exchange, is facing a possible rejection of its licence application in the European Union. According to Reuters, the company’s request through Greece under the MiCA rules may not be approved. MiCA is the EU’s framework for crypto-asset companies, and firms need a licence by the end of June to continue operating. A licence from one EU country can be used across all 27 member states through the passport system. Binance applied to Greece’s capital markets regulator, but the regulator is said to be preparing to reject the request. If that happens, Binance would not have the legal permission it needs to keep operating in the EU market in its current form from the start of July. Binance says it wants an orderly process and aims to reduce disruption for users. It also says it has been working with regulators for about 18 months and believes it has met the requirements.
Binance faces possible EU licence rejection
Binance may fail to get the EU licence it needs under new crypto rules. If that happens, it could lose the right to serve customers across the bloc from early July.
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