Binance, the world’s largest crypto exchange, is poised to lose its ability to serve EU clients after its Greek MiCA license application faces rejection, Reuters reported on June 16, 2026.
Two sources familiar with the matter told Reuters that Greece’s Hellenic Capital Market Commission (HCMC) is set to turn down the application. The decision, if finalized, would block Binance from operating across the 27-nation bloc once MiCA’s transitional period ends on July 1, 2026.
BeInCrypto reached out to Binance for confirmation, and they stated the following:
“We have been pursuing a MiCA licence and have worked constructively with regulators over the past 18 months, including through a comprehensive application process with the HCMC in Greece. Our understanding is that the HCMC completed its review of the application and considered it compliant with MiCA requirements, and that the application was also reviewed at ESMA level. We believe that the HCMC’s view is that the application was compliant and that they intended to progress the licence and move to authorise at an upcoming Board meeting,” Binance told BeInCrypto in its official statement.
Major Regulatory Setback for Binance
Under the EU’s Markets in Crypto-Assets (MiCA) framework, a single license grants passporting rights for seamless operations across member states.
Without approval, unlicensed platforms must halt services to avoid enforcement actions, fines, or blacklisting by national regulators.
Binance submitted its application in January 2026 through a Greek subsidiary, citing the country’s skilled workforce and security advantages.
Co-CEO Richard Teng highlighted these strengths in February, expressing confidence in meeting the deadline.
“Greece’s labour force and security profile gave it the edge over larger financial centres… The license is pretty standard throughout Europe, so we have to think through many other factors, whether it’s social, whether it’s talent pool, safety and security issues. Greece is where we think will be a good base for us to expand in Europe.”
Follow us on X to get the latest news as it happens
Binance Pushes Back
A Binance spokesperson reportedly told Reuters the exchange “has worked constructively with regulators over the past 18 months” and believes it has met all MiCA requirements.
The company noted that HCMC completed its review and found the application compliant, adding that “HCMC has given no formal indication of the contrary.”
HCMC declined to comment, citing confidentiality rules.
Europe represents a significant market for Binance. The looming cutoff comes amid heightened regulatory scrutiny on global crypto platforms.
Competitors with approved MiCA licenses, such as Coinbase and Kraken, stand to gain users seeking compliant trading venues.
BNB token and broader crypto markets may face short-term volatility as traders digest the news.
No formal rejection has been announced yet.
Binance continues engaging with regulators, while EU users should monitor platform updates regarding deposits, trading, and withdrawals after July 1.
An official HCMC decision or Binance appeal could still shift the outcome in the coming days.
