The world's largest cryptocurrency exchange, Binance, risks losing the ability to serve clients from European Union countries after the Greek regulator rejected the company's application for a MiCA license. This was reported by Reuters on June 16, 2026.

According to two Reuters sources, the Hellenic Capital Market Commission (HCMC) is preparing to deny Binance. If the decision is made official, the exchange will not be able to operate in the 27 EU countries once the MiCA transition period takes effect – on July 1, 2026.

A major regulatory blow to Binance

The MiCA regulatory framework in the European Union provides for a single license that grants the right to operate without additional permits in all member states.

Without the regulator's approval, unlicensed platforms are required to stop serving clients in order to avoid sanctions, fines, or being added to blacklists.

Binance filed its license application in January 2026 through a subsidiary in Greece, focusing on its high level of specialists and strong security positions in the country.

In February, Binance co-CEO Richard Teng dismissed these assumptions and expressed confidence that the exchange would manage to meet the deadline.

Binance's position

As a Binance representative said in a comment to Reuters, over the past 18 months the company has cooperated constructively with regulators and believes it has met all MiCA requirements.

The company noted that the HCMC had completed its investigation and suspended the application without disclosing official reasons for the refusal, adding: «The HCMC has not informed us of a reasoned decision at the official level».

The HCMC itself declined to comment on the situation, citing confidentiality.

The European market is of strategic importance to Binance. A possible blocking of access to it would lead to tighter scrutiny of cryptocurrency platforms worldwide.

Competitors that have obtained a MiCA license, such as Coinbase and Kraken, could attract users inclined to operate on legal platforms.

The BNB token and the entire cryptocurrency market may face increased volatility in the near future amid this news.

Source: BeInCrypto