Greek regulator may reject Binance MiCA license, end EU ops

Binance, the world's largest cryptocurrency exchange, faces the imminent loss of its ability to serve customers across the European Union after its application for a key regulatory license in Greece is reportedly set to be rejected. The decision, expected just weeks before a critical EU deadline, threatens to upend the exchange's European strategy and could force it to wind down services for millions of users.

According to reports citing sources familiar with the matter, Greece's financial regulator, the Hellenic Capital Market Commission (HCMC), is preparing to deny Binance's application for a license under the EU's Markets in Crypto-Assets (MiCA) regulation. Under MiCA, crypto firms must obtain authorization from one member state by the end of June to legally "passport" their services across all 27 EU nations. Without this license, Binance would be unable to operate in the bloc starting in July.

The exchange has publicly pushed back against the reports. A Binance spokesperson stated that the company believes it has met all MiCA requirements after an 18-month application process conducted with Greek regulators. The spokesperson said the company's understanding was that the HCMC...