Binance faces denial of its MiCA license in the EU, potentially forcing the exchange to halt operations across member states.
Binance, the world’s largest cryptocurrency exchange by trading volume, is poised to have its Markets in Crypto Assets (MiCA) license application rejected by EU regulators. Greece’s Hellenic Capital Market Commission (HCMC) is expected to deny the firm’s request ahead of the June 30 deadline, according to sources familiar with the matter.
The exchange applied for the license in January after establishing a holding company in Greece last December. Approval would have allowed Binance to operate across the EU, including major markets like France, Spain, and Germany. Binance stated it believes its application complies with MiCA requirements and has worked with regulators for 18 months.
Failure to secure the license would require Binance to cease operations in the EU, disrupting access for millions of users. The decision follows heightened regulatory scrutiny of crypto exchanges globally.