Binance, the world's largest crypto exchange, risks losing the ability to serve clients in the European Union after its application for a MiCA license in Greece met with a rejection, Reuters reports on June 16, 2026.

According to two sources familiar with the situation, the Hellenic Capital Market Commission (HCMC) is preparing to reject the application. If the decision is final, Binance will not be able to operate in any of the bloc's countries after the end of the MiCA transition period — from July 1, 2026.

BeInCrypto reached out to Binance for comment, and the company stated the following:

«We did indeed file an application for a MiCA license and over the past 18 months have actively engaged with regulators, including going through the detailed document submission procedure with the HCMC in Greece. As far as we know, the HCMC has completed its review of the application and found it compliant with MiCA standards, after which the materials were also examined at the ESMA level. We understand that the HCMC considers our application to meet the requirements and initially planned to put the licensing matter forward for approval at its upcoming board meeting», Binance told BeInCrypto in an official response.

Binance faces major regulatory challenges

Under the European Union rules set out in the Markets in Crypto-Assets (MiCA) regulation, a single license allows services to be provided seamlessly across the entire EU market.

Without approval from a national regulator, a platform may not provide services — otherwise it faces inspections, fines and a ban on operating.

Binance filed its application through its Greek subsidiary in January 2026, choosing the country for its qualified staff and advantages on security matters. Read more.

Binance co-CEO Richard Teng elaborated on these advantages in February, stressing confidence that the company would meet the deadlines.

Source: BeInCrypto