Binance Faces EU Exit as Greek License Bid Nears Rejection

Binance, the world's largest cryptocurrency exchange, is on the brink of losing access to the European Union after its application for a Markets in Crypto-Assets (MiCA) license in Greece faces rejection. The decision, if confirmed, would prevent Binance from offering services across the 27-member bloc when the MiCA transition period ends on July 1.

The new regulatory framework requires crypto firms to secure approval from a national regulator to gain passporting rights across the EU. Binance submitted its application through a Greek entity earlier this year, positioning Greece as its regulatory base in Europe. Co-CEO Richard Teng had expressed confidence that the firm would meet the requirements ahead of the deadline.

The Hellenic Capital Market Commission is set to reject the application, according to two sources who spoke with Reuters. Binance said it has received no formal notice of a denial and maintains that its submission meets MiCA standards.