Binance, the largest cryptocurrency exchange in the world, may lose its ability to serve customers from the EU after its MiCA license application was rejected in Greece, Reuters reported on June 16, 2026.
Two Reuters sources indicated that the Greek Securities and Exchange Commission (HCMC) plans to reject this application. If the decision is confirmed, Binance will lose its right to operate in 27 EU countries when the MiCA transition period ends on July 1, 2026.
A serious regulatory hurdle for Binance
According to the EU's crypto asset regulatory framework (MiCA), one license allows for seamless service provision in member countries.
Without approval, unlicensed platforms must halt operations to avoid financial penalties, sanctions, or being blacklisted by national regulators.
Binance applied for a license in January 2026 through its Greek subsidiary, highlighting its skilled team and security edge.
Co-CEO Richard Teng emphasized these assets in February, expressing confidence in meeting the deadline.
Binance responds to the decision.
A Binance spokesperson told Reuters that the exchange has "constructively engaged with regulators over the past 18 months" and believes it has met all MiCA requirements.
The company indicated that HCMC completed its review of the application and deemed it compliant, adding: "HCMC did not present any formal objections."
HCMC declined to comment, citing confidentiality rules.
Europe is a significant market for Binance. The upcoming clampdown comes amid heightened regulatory scrutiny over global crypto platforms.
Competitors with an approved MiCA license, like Coinbase and Kraken, may gain users looking for legit trading venues.
The BNB token and the broader crypto market may experience short-term volatility following these reports.
No official denial has been announced yet.
Binance is in talks with regulators, and EU users should stay updated on deposits, trading, and withdrawals after July 1.
The official decision from HCMC or Binance's appeal may change the situation in the coming days.
Investors should analyze their exposure and consider licensed alternatives that ensure uninterrupted access to services in the EU.