An EU crypto license application by the world’s largest crypto exchange is set to be rejected by the Greek regulator HCMC, according to a report from Reuters.
- Crypto firms need to obtain a MiCA license to operate in the EU by the end of this month.
- Binance said the HCMC completed its review of the application and considered it compliant with MiCA requirements.
Binance, the world’s largest cryptocurrency exchange, may be unable to serve customers in Europe if its regulatory license application in Greece is turned down, as Reuters reported on Tuesday.
Binance’s Markets in Crypto Assets (MiCA) license application, which has to be approved by a deadline at the end of this month, is going to be rejected by the Greek financial watchdog Hellenic Capital Market Commission (HCMC), according to the report, which cited two people familiar with the situation.
Binance said it has been pursuing a MiCA license over the past 18 months, including through a comprehensive application process with the HCMC in Greece.
“Our understanding is that 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,” a Binance spokesman told CoinDesk via email.
The spokesman also said 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."
Binance chose Greece as its MiCA jurisdiction following speculation that it might seek a license in Malta, where it had offices. The exchange set up a Greek holding company in conjunction with the HCMC license application, Greek media reported late last year.
The Hellenic Capital Market Commission did not immediately respond to requests for comment.
In May, combined exchange volumes fell 3.45% to $4.41T; the lowest since September 2024. RWA perpetual futures volumes rose 10.4% against the trend, hitting a new all-time high.