Binance customers in the European Union may lose access to the platform as early as the end of the month after its application for a regulatory license in Greece is reportedly set to be rejected, according to Reuters.
Binance, the world's largest crypto exchange by volume, has been seeking authorization under the EU's Markets in Crypto-Assets (MiCA) framework, which requires crypto firms to obtain a license in order to continue offering services across the bloc.
A grace window was put in place for firms to apply and receive licensure, but that transition phase expires on July 1.
Reuters reported Tuesday that Binance's application with Greece's Hellenic Capital Market Commission is expected to be denied, citing two sources familiar with the matter.
A Binance spokesperson countered that, saying it believes it has met MiCA requirements and worked alongside regulators themselves over an 18-month application process. They added that Binance received no indication that the application would be rejected.
