Binance on Brink of Losing EU Access as Greece Set to Reject MiCA Licence

The world's largest crypto exchange, Binance, is on the verge of losing its right to serve customers across the European Union. According to sources familiar with the matter, Greece's market regulator is set to reject Binance's licence application under the EU's MiCA rules.

Binance applied for a licence in Greece 18 months ago, and despite claiming it has met the requirements, the Greek commission is expected to deny its bid. This would leave the exchange unable to operate legally in the 27-nation bloc from July.

The decision would have significant implications for Binance's EU-based users, who would be left uncertain about their access to deposits, trades, and withdrawals. A spokesperson for the exchange stated that it has been working with regulators and believes it has cleared the bar, but the gap between its expectations and the sources' account sets up a tense final stretch before the deadline.