Binance set to lose EU access as Greece rejects MiCA bid

Binance is set to lose permission to operate in the EU after Greece’s Hellenic Capital Market Commission moves to reject its MiCA license application, according to Reuters.reuters
The EU’s MiCA deadline expires July 1, after which unlicensed crypto firms must cease operations; only about 210 of over 1,200 pre-MiCA entities have secured full authorization.ccn
Binance disputes the reporting, saying the Greek regulator “has given no formal indication” its application would be denied and that it believes it meets MiCA requirements.reuters

Binance Set to Lose EU License Bid as Greece Moves to Reject MiCA Application

Binance, the world’s largest cryptocurrency exchange, is poised to lose its ability to serve European Union clients after Greece’s market regulator moves to reject its application for a Markets in Crypto-Assets license, according to a Reuters exclusive published on Tuesday.reuters

Two people familiar with the matter told Reuters that Binance’s application, submitted to the Hellenic Capital Market Commission, is expected to be turned down just weeks before a critical regulatory deadline. Under the EU’s MiCA framework, crypto firms must secure authorization by the end of June to continue operating across the bloc. Without a license, Binance would be barred from offering services to EU customers starting in July.crypto

Binance Disputes the Reporting

A Binance spokesperson pushed back on the reporting, telling Reuters that the company has worked with regulators for the past 18 months through what it described as a comprehensive application process. The spokesperson said Binance believes it has satisfied MiCA requirements and understands that the HCMC has completed its review, finding the application compliant.reuters

“HCMC has given no formal indication of the contrary,” the spokesperson told Reuters.crypto

The Hellenic Capital Market Commission declined to comment on the application, citing confidentiality requirements.reuters

A Tightening Deadline

Binance filed its MiCA application in Greece in January 2026, establishing a local subsidiary called Binary Greece as part of its bid to secure EU-wide passporting rights. The exchange chose Greece over jurisdictions like Germany and the Netherlands, which had already issued dozens of MiCA licenses.bingx

The EU’s MiCA transitional period expires on July 1, 2026, after which firms without authorization face enforcement action. The European Securities and Markets Authority has stated that non-authorized entities “will not be allowed to operate within the EU” after that date. As of early June, only about 210 of the more than 1,200 entities that held pre-MiCA national registrations had transitioned to full CASP authorization, and just 14 exchanges held trading platform approval.cryptorank

France’s financial regulator has warned that unauthorized operation after the deadline could lead to criminal prosecution. For Binance, which manages approximately $44 billion in bitcoin across customer wallets, a rejection would represent a major blow to its European ambitions — and leave millions of EU users searching for alternatives.reuters