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Binance Could Lose E.U. Access Amid Licensing Hurdle
Greece's capital markets regulator just threw a wrench into Binance's E.U. plans.
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Reuters has reported that Binance's bid for a MiCA license in Greece is expected to be denied, potentially forcing the dominant global crypto exchange to pause services for E.U. clients at the end of June 2026.
What's the Scoop?
- Last Stretch: The news lands two weeks before July 1st, the E.U.'s legislative cutoff point, after which unlicensed crypto firms will be in violation of a bloc-wide law.
- What's Happening: Sources told Reuters that Greece's Hellenic Capital Market Commission is preparing to turn down Binance's MiCA application. The HCMC declined to comment, declining on confidentiality grounds.
- Pushing Back: Greece has been Binance's chosen E.U. jurisdictional foothold to date. A Binance spokesperson said the application went through an 18-month process and that Binance believes it cleared MiCA's requirements, with its review actually considered compliant at one point.
- Potential Blunder: Binance co-CEO Richard Teng chose Greece over bigger E.U. markets specifically for its workforce and regulatory posture, saying earlier this year that he'd let regulators make the final call. That bet is now looking shaky.