On June 16, Reuters, citing two sources, reported that the Greek regulator is preparing to reject Binance's application for a MiCA license. In response, the exchange said the review had already been completed and the application deemed compliant with the regulation's requirements.
A final decision has not yet been made. Binance promised to provide updated information about the application's status by June 30.
MiCA covers all crypto companies operating in the European Union. A single license from one of the national regulators grants the right to operate in all 27 countries of the bloc under a passporting mechanism. The transition period ends on June 30, 2026. Without authorization, from July 1 a platform will not be able to legally serve clients in the EU.
Binance's application was reviewed by the Hellenic Capital Market Commission. According to Reuters, the agency is ready to deny the exchange but refrained from commenting on the course of the review, citing confidentiality rules.
Binance insists it has received no formal signals of a denial. According to the company, the application was deemed compliant with MiCA requirements, and the documents were additionally reviewed at the level of the European Securities and Markets Authority (ESMA). As CoinDesk reported, citing a representative of the exchange, the Greek regulator notified ESMA that it intends to issue the license at the next meeting of its board.
Binance believes the matter goes beyond a single company and concerns how uniformly MiCA is applied across the EU.
«The regulation was designed to unify the rules and create predictable operating conditions for crypto businesses in the European Union. A situation in which a company passes all stages of approval but still faces uncertainty raises questions about the consistency of applying MiCA norms», — Binance commented.
Binance also offered arguments in favor of its compliance reputation. According to the company, more than 1,500 people (about 20% of its staff) are employed in this area. On December 8, 2025, the exchange announced that it had obtained full authorization from the Financial Services Regulatory Authority of Abu Dhabi Global Market. The company estimates its annual compliance spending at more than $200 million.
Binance emphasizes that in Europe it serves more users than any other platform, so a delay with the license will affect not only the exchange itself.
«This could lead to weaker liquidity, reduced competition and choice for users, as well as an outflow of activity, jobs, investment, and tax revenue beyond the EU», — the exchange's statement reads.
Earlier, ESMA recalled that from July 1 crypto companies without a MiCA license must stop serving clients from the European Union. According to Hogan Lovells, by May only 194 companies had received official authorization. This is a small fraction of the 3,000 firms that previously operated in the region. It is expected that about 75% of the old platforms will close or leave the European market.
Source: ForkLog
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