Greece's financial watchdog is preparing to reject Binance's application for a pan-European crypto license, according to Reuters, putting the world's largest exchange on course to lose access to European Union clients as soon as July 1. Binance disputes the characterization and says its application meets the regulator's requirements.
The Hellenic Capital Market Commission (HCMC) has reviewed Binance's Markets in Crypto Assets (MiCA) license application and is set to deny it, Reuters reported Tuesday, citing two people familiar with the situation. Bloomberg separately reported the exchange is internally preparing contingency plans for an EU exit. Under MiCA's transitional schedule, crypto firms without a valid license are barred from serving EU residents starting July 1.
Binance pushed back in a blog post and on its official X account, saying the HCMC "completed its review of the application and considered it compliant with MiCA requirements" and that the application "was also reviewed at ESMA level." The exchange added that HCMC "informed ESMA that it was their view that the application was compliant and that they intended to progress the licence and move to authorise at an upcoming Board meeting."
