Binance, the biggest cryptocurrency exchange in the world, will no longer be able to serve clients in the European Union starting next month due to the impending rejection of its license application, according to Reuters.
Crypto companies have until the end of June to apply for a license under new EU regulations known as Markets in Crypto-Assets (MiCA), which will enable them to continue serving customers throughout the bloc. According to the report, Binance's application to Greece's market authority is expected to be rejected.
Regulators in Europe have been trying to control cryptocurrency exchanges, which let users trade cryptocurrencies like bitcoin all over the world.
ALSO READ | Evan Spiegel Introduces $2,195 Snap Specs As 'Computer Of The Future'
According to MiCA, cryptocurrency businesses must apply for licenses from regulators in each of the 27 EU member states. These licenses can be used as a "passport" to conduct business within the bloc.
Oversight of the multitrillion-dollar cryptocurrency sector is at risk; regulators have long cautioned that improper supervision might destabilise markets and hurt investors.
The Greek denial would imply that Binance would not be granted permission to operate in the EU, which would leave its clients in the EU in the dark.
A representative for Binance, which has 300 million users globally, previously stated that the company has been working with regulators for 18 months and has been pursuing a MiCA license.
According to the spokesperson, Binance thinks it has fulfilled the standards to be MiCA-authorised. It was aware that the application was deemed compliant after the Hellenic Capital Market Commission of Greece finished reviewing it. The spokesperson told Reuters that the HCMC has not provided any official indication to the contrary.
Binance remains committed to Europe.
— Binance (@binance) June 16, 2026
We are still working to secure the right path forward under MiCA and will continue to update our users as progress is made.
In February, Richard Teng, co-CEO of Binance, stated that Greece had an advantage over larger financial centers for its regulatory home in Europe due to its labour force and security profile.
Last year, U.S. President Donald Trump pardoned his predecessor, Changpeng Zhao, sometimes known as CZ, who had previously admitted to breaking U.S. money-laundering rules.
ALSO READ | BMW Plans To Cut More Costs After China Slump Hits Outlook
Citing confidentiality regulations, HCMC refuses to comment on Binance's application. Beginning in July, Binance would not be able to operate in the EU without a license.
Despite the Trump administration's efforts, EU regulations have brought regulatory control to the operations of the cryptocurrency business in Europe.
"We'll provide you with more information before June 30, 2026," Binance stated, noting that any delays in the MiCA authorisation procedure run the risk of driving activity beyond the EU.
Essential Business Intelligence, Sharp Market Insights, Practical Personal Finance Advice, Daily Fuel, Gold and Silver Prices and Latest Stories — On NDTV Profit.
