Report: Binance's EU License Application Set to Be Rejected, May Lose EU Service Eligibility Starting July
N.R. Finch
Reuters reports Binance's MiCA license application to Greece's regulator is set to be rejected — if confirmed, the world's largest crypto exchange will lose the right to serve EU clients from July, marking another major regulatory setback.
What is MiCA, and why is July the deadline?
MiCA — the EU's Markets in Crypto-Assets Regulation, essentially a licensing regime for crypto firms — requires all operators to secure a license by end of June or stop serving EU clients from July onward.
This means → it is not a compliance review but a binary gate: licensed or out.
Binance filed its application with the Hellenic Capital Market Commission (HCMC) in Greece, but two people familiar with the matter told Reuters the application is set to be denied.
What does Binance say?
A Binance spokesperson said the company has maintained "constructive cooperation" with regulators over the past 18 months and believes it meets MiCA requirements.
Binance also claimed that, to its knowledge, HCMC has completed its review and found the application compliant — "HCMC has not given any formal indication to the contrary."
In plain terms = Binance's position is "we submitted, they reviewed, nobody said no" — but Reuters' sources tell a different story.
If rejected, how big is the impact?
The most immediate consequence: Binance would be unable to serve EU clients from July, effectively losing access to an entire major market.
Co-CEO Richard Teng publicly praised Greece as recently as February, citing its workforce and security environment as advantages — that bet now risks falling through.
This reflects a broader pattern: major jurisdictions worldwide are tightening the regulatory bar for crypto exchanges one by one, and Binance has hit walls in multiple regions. The EU is simply the latest.
Content is for reference only, not financial advice.