Binance's EU licence bid faces rejection risk

Binance, the world’s largest cryptocurrency exchange, is facing a serious setback in the European Union as its licence application under MiCA appears to be at risk of rejection. Reuters reported that the company’s bid, filed through Greece’s HCMC, may not succeed. Under MiCA, the EU’s Markets in Crypto-Assets regime, crypto firms must secure authorisation by the end of June if they want to continue operating, and a licence granted by one member state can be used across the bloc through the passport mechanism. If the Greek regulator rejects Binance’s application, the company would lose the legal basis needed to serve customers throughout the 27-member EU from early July. Binance said on X that it wants an orderly process and seeks to minimise disruption for users, although it gave no further detail on how that would be handled. A spokesperson added that the company has worked with regulators for around 18 months, believes it has met the necessary conditions, and has not received an official notice of rejection from HCMC. Binance also said it would provide another update before 30 June 2026. The case comes as EU regulators have tightened oversight of the crypto sector in recent years, arguing that insufficient supervision can create risks for investors and broader market stability. For Binance, which says it has about 300 million customers worldwide, Europe remains an important market.