Binance's application for an EU license may be rejected, and it may lose its EU service eligibility starting in July

According to two sources familiar with the matter from Reuters, Binance's MiCA license application submitted to the Greek market regulator is about to be rejected, which means that Binance will lose its eligibility to operate legally in the 27 EU countries as early as July, leaving the accounts of its EU users in uncertainty.

Under the EU's regulatory framework for crypto assets (MiCA), crypto companies must obtain licenses issued by member state regulators by the end of June and use this as a "passport" to operate throughout the EU. Binance previously chose Greece as its European regulatory registration location, and co-CEO Richard Teng publicly stated in February that Greece's labor resources and security environment are superior to other European financial centers. However, the Hellenic Capital Market Commission (HCMC) declined to comment on Binance's application, citing confidentiality regulations.

Binance stated that the company has been communicating and collaborating with regulators for over 18 months and believes it has met the MiCA authorization requirements, understanding that the HCMC has completed its review and determined the application to be compliant, "HCMC has not provided any formal explanation for a contrary conclusion." After the news was released, Binance posted on the X platform that it would "support the orderly advancement of the process to minimize the impact on users" and promised to provide further clarification by June 30, 2026, while warning that delays in the MiCA authorization process could lead to related business being moved outside the EU.