Binance faces potential exclusion from the European Union market as Greece’s financial regulator prepares to reject its application for a MiCA license, according to two sources cited by Reuters. The world’s largest crypto exchange, serving approximately 300 million users globally, must secure regulatory approval by June 30 to continue operations across all 27 EU member states under the bloc’s new Markets in Crypto-Assets framework.
The company has been working with Greek authorities for roughly 18 months and maintains its application meets MiCA requirements. Binance stated it believes the Hellenic Capital Market Commission had deemed the application compliant following its review. Without approval from a national regulator, the exchange must cease serving EU clients starting July 1, creating immediate uncertainty for its European user base.
Binance emphasized Europe remains central to its strategy and pledged to minimize user disruption while supporting an orderly transition. The company promised updates before the month-end deadline.
FXnCO Insight
EU-based crypto traders should prepare contingency plans and identify alternative licensed exchanges immediately, as Binance may lose market access within weeks.
Source: Finance Magnates