On June 16, Reuters reported, citing two sources, that the Greek regulator is preparing to reject Binance's application for a MiCA license. In response, the exchange stated that the review is complete and the application meets regulatory requirements.
No final decision has been made yet. Binance has promised to provide an update on the status of its application by June 30.
The MiCA regulation applies to all crypto companies operating within the European Union. A single license from one of the national regulators allows operation across all 27 countries in the bloc through a passporting mechanism. The transition period ends on June 30, 2026. Without authorization, the platform will not be able to legally serve clients in the EU starting July 1.
The Greek Capital Market Commission is reviewing Binance's application. According to Reuters, the agency is prepared to deny the exchange but has refrained from commenting during the review process, citing confidentiality rules.
Binance insists that it has not received any formal signals of denial. The company claims its application was deemed compliant with MiCA, and the documents were further reviewed at the European Securities and Markets Authority (ESMA) level. As reported by CoinDesk, citing a representative of the exchange, the Greek regulator informed ESMA that it intends to grant the license at its next board meeting.
Binance believes that this issue extends beyond a single company and pertains to the consistency of MiCA's application across the EU.
“The regulation was designed to unify rules and create predictable operating conditions for crypto businesses in the EU. The situation where a company passes all stages of approval but still faces uncertainty raises questions about the consistency of MiCA's application,” Binance commented.
Binance also presented arguments supporting its compliance reputation. According to the company, over 1,500 people (about 20% of its workforce) are dedicated to compliance. On December 8, 2025, the exchange announced it had received full authorization from the Global Market Financial Services Regulatory Authority in Abu Dhabi. The company estimates its annual compliance investments exceed $200 million.
Binance emphasizes that it serves more users in Europe than any other platform, so delays in licensing will affect not just the exchange itself.
“This could lead to reduced liquidity, decreased competition and choice for users, as well as an outflow of activity, jobs, investments, and tax revenues outside the EU,” the exchange stated.
Previously, ESMA reminded that from July 1, crypto companies without a MiCA license must cease servicing clients from the EU. According to Hogan Lovells, as of May, only 194 companies had received official permission. This is a small fraction of the 3,000 firms that operated in the region previously. It is expected that about 75% of the old platforms will close or exit the European market.