Binance Faces Euro License Rejection as MiCA Deadline Looms

The world's largest crypto exchange, Binance, is facing a reported rejection of its European license under the EU's Markets in Crypto-Assets (MiCA) framework. According to data from CryptoQuant, euro-denominated trading accounts for just 1% of Binance's global spot volume. This limited exposure could blunt the potential fallout if Greece's Hellenic Capital Market Commission rejects Binance's license application ahead of the July 1 transitional deadline.

Binance's daily euro-pair volume has generally ranged between $100 million and $250 million, occasionally spiking above $600 million, CryptoQuant analyst Maartunn noted. This suggests that Binance's inflows remain globally distributed, which may limit the impact of potential MiCA-related setbacks.

Rivals Kraken, Coinbase, and Bitvavo have already secured MiCA authorisation, gaining passporting rights across all 27 EU member states. A rejection in Greece would complicate Binance's ability to serve customers throughout the bloc, as it would remove a key route for the exchange to operate under the new regime.