Binance Faces EU Market Exit as Greece Weighs MiCA License Denial

"It risks weakening liquidity, reducing competition and user choice, and pushing activity, jobs, investment, and tax revenue outside the EU," Binance said, warning of market-wide fallout if its application is blocked.

The exchange claims the largest European user base among crypto platforms. A denial would hit both retail and institutional clients across the continent. Rivals in Germany and the Netherlands have already secured MiCA approvals ahead of the deadline.

Binance has not disclosed a Plan B if the Greek regulator formally rejects the application before June 30. It promised customers a status update by that date regardless of the outcome.

The regulatory fight comes as U.S. lawmakers demand answers on allegations that Binance processed roughly $1 billion in transactions tied to sanctioned parties. The exchange already operates under U.S. compliance oversight after a $4.3 billion settlement with Treasury and DOJ in 2023, which included former CEO Changpeng Zhao pleading guilty to one felony count.