Binance, the world’s largest cryptocurrency exchange, could be forced to exit the European Union after Greece’s financial regulator is set to reject its Markets in Crypto-Assets (MiCA) license application, according to two sources cited by Reuters.
The Hellenic Capital Market Commission’s expected denial would leave Binance without regulatory approval across the 27 EU member states ahead of a July 1 deadline when the MiCA transition period ends. After that date, the exchange would need to halt services to EU clients or face enforcement action including fines and restrictions in major markets such as France, Germany, and Italy.
Binance submitted its MiCA application through a Greek entity earlier in 2026, selecting Greece as its regulatory base in Europe. The company cited the country’s workforce and operating environment as factors in the decision. Co-CEO Richard Teng had previously expressed confidence that Binance would meet MiCA requirements ahead of the deadline.
MiCA introduces a single rulebook for digital asset firms across the EU, covering consumer protection, capital requirements, and governance standards. The framework replaces a patchwork of national regulations that previously governed cryptocurrency firms operating in individual member states.
Binance stated it has received no formal notice of denial. “Binance remains committed to its European users and will continue to operate in compliance with applicable law,” the exchange said via X posts. The company maintains that its submission meets MiCA standards and complies with the framework.
The reported rejection comes as Binance faces regulatory scrutiny in multiple jurisdictions. The exchange has encountered pressure from regulators in the United States and United Kingdom in recent years. By contrast, rivals Coinbase and Kraken have already secured MiCA licenses in the EU.
The Reuters sources did not specify the grounds for the expected rejection or provide details on deficiencies cited by the Greek regulator. The Hellenic Capital Market Commission has not announced a timeline for issuing a formal denial notice.
