Binance Faces EU Exit Risk as Greece Rejects MiCA License

Two sources told Reuters that Greek regulators plan to reject Binance's MiCA license application. The decision would cut the exchange off from EU customers by July 1, when the transition grace period expires.

The EU's Markets in Crypto-Assets regulation requires all crypto firms to hold a valid license to serve European customers. The European Securities and Markets Authority warned in April that non-compliant firms must wind down EU operations or migrate customers before that date.

Binance applied through Greece's Hellenic Capital Market Commission over the past 18 months. The company believed it had met all MiCA requirements. A Binance spokesperson said the company worked constructively with regulators throughout the process and that regulators never formally indicated they would reject the application. The HCMC declined to comment, citing confidentiality rules. CEO Richard Teng had previously cited Greece as the preferred home for Binance's European operations.

If the rejection is confirmed, Binance would need to halt EU services from July 1. EU-based users holding funds on the platform face potential disruption to withdrawals, trading, and account access. Binance has not confirmed any contingency plan or alternative licensing route.