- Greece may reject Binance’s MiCA licence bid, putting EU access at risk from July 1.
- Binance says it met MiCA rules after an 18-month application process with HCMC in Athens.
- Greece became central to Binance’s EU plan through Binary Greece and MiCA passporting.
Binance may lose permission to serve European Union clients within weeks, as its MiCA licence application in Greece faces reported rejection. Reuters reported that two people familiar with the matter said Greece’s market regulator is set to turn down the request.
The decision has not been announced by Greece’s Hellenic Capital Market Commission. The regulator has not commented publicly.
Binance Faces MiCA Deadline Pressure
The issue comes before a key EU deadline. Under the Markets in Crypto-Assets Regulation, crypto firms need authorisation to keep serving clients across the bloc after June 30, 2026.
Without approval before the deadline, Binance may not qualify to serve EU users from July 1. The outcome could affect its access to the 27-nation bloc under MiCA.
Reuters said HCMC would not respond to media questions because of confidentiality rules. The report has not been confirmed by an official public decision. Binance pushed back against the report. Over the past 18 months, Binance has worked with regulators while pursuing approval under MiCA.
A Binance spokesperson said the company had gone through a comprehensive application process with HCMC. The exchange also said it believed it had met the relevant requirements under MiCA. Binance told Reuters it understood that HCMC had completed its review and considered the application compliant. The company added that HCMC had given no formal indication to the contrary.
Binance also addressed the matter in a post on X. The exchange said it is taking a prudent, customer-first approach by giving users enough time and clear information. Binance selected Greece earlier this year as its gateway for a pan-European MiCA licence. It submitted the application through HCMC in Athens.
The application reportedly moved through a fast-track review process. Regulators and crypto firms were preparing for the July 1, 2026 start of the new authorization regime.
Binance Builds Greek Base for EU Access
As part of its European plan, Binance set up a Greek holding company called Binary Greece. The entity was created to oversee regional operations and investments.
The company also appointed Gillian Majella Lynch as managing director of Binary Greece. Lynch serves as Binance’s Head of Europe and the UK. A MiCA licence from one EU member state could allow a crypto company to passport services across the bloc.
Greece formed a key part of Binance’s European regulatory strategy. A rejection from HCMC would deal a setback to that plan. However, in February, Binance co-CEO Richard Teng said Greece had advantages as a regulatory home. He cited the country’s labour force and security profile.
MiCA was designed to create one clear crypto rulebook across the EU. It replaced a patchwork of national rules with a harmonised framework.
However, Binance has faced regulatory pressure in several markets. These include the United States, France, Australia, and parts of Europe. In 2023, Binance exited the Netherlands after failing to secure registration. German regulators also reportedly declined to grant the exchange a crypto custody licence.
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