Binance, the world’s largest cryptocurrency exchange by user base, is facing a serious setback in the European Union. According to Reuters, its MiCA license application filed through Greece may be rejected by the Hellenic Capital Market Commission. If that occurs, Binance would lose the legal authorization it needs to serve customers across the EU from early July.
The issue comes as the EU’s Markets in Crypto-Assets regulation takes effect. Under MiCA, crypto firms must obtain a license by the end of June to continue operating, and a license from one member state can be used across all 27 countries through the bloc’s passporting system. Binance submitted its application in Greece, but the regulator is said to be preparing a negative decision.
Binance said on X that it wants to support an orderly process and minimize disruption for users. A spokesperson said the company has worked with regulators for about 18 months and believes it has met the required conditions. Binance also said it has not received an official refusal notice. The company has about 300 million customers worldwide, making the European market especially important, and it said it will share another update before June 30, 2026.