Greek Regulator Rejects Binance MiCA Application @Binance is racing to secure its European foothold with less than a week before its current operating permissions expire. The world's largest
@Binance is racing to secure its European foothold with less than a week before its current operating permissions expire. The world's largest crypto exchange by volume is pivoting to alternative EU jurisdictions after its primary license bid collapsed in Greece.
Binance may be unable to serve customers in Europe after its MiCA license application in Greece is set to be rejected by the Hellenic Capital Market Commission (HCMC), according to Reuters, which cited two people familiar with the situation.Under the EU's Markets in Crypto-Assets Regulation (MiCA), which came into force in December 2023, crypto firms have until the end of June 2026 to obtain a licence to continue servicing clients across the 27-member bloc.
Under the framework, crypto companies must apply for licences from regulators in individual EU member states, which then serve as a passport to operate throughout the entire bloc.Binance filed its application in January 2026 through Greece's regulator, having previously named Greece as its preferred regulatory base in Europe, citing the country's workforce and security advantages.
Reports indicate that regulators in Ireland and Latvia have echoed the HCMC's concerns, specifically citing the firm's historical compliance record, opaque corporate structure, and overall risk profile as primary barriers to approval. Binance's founder Changpeng Zhao, known as CZ, was pardoned by U.S. President Donald Trump last year after earlier pleading guilty to violating U.S. money-laundering laws.
A company spokesperson said Binance had pursued a MiCA licence whilst working with regulators for 18 months, and believes it has met all requirements, adding that the HCMC had completed its review of the application and considered it compliant.Bloomberg separately reported the exchange is internally preparing contingency plans for an EU exit.
The exchange has confirmed the cessation of services for users residing in the European Union as of July 1, 2026.The implications, Binance noted, extend beyond its own operations and touch on broader issues such as liquidity in European markets, competitiveness, and the tax base.
The situation marks a significant setback for the exchange in one of the world's largest financial markets, and raises broader questions about how aggressively EU regulators intend to apply MiCA to large, globally operating platforms.
Sources:The Paypers: Binance faces EU operating loss as Greece rejects licenceCoinDesk: Binance says its European regulatory application is compliant despite report of Greek rejectionThe Defiant: Binance Could Face EU Exit as Reports Say Greek Regulator is Set to Reject MiCA License
