The Hellenic Capital Market Commission is reportedly ready to reject Binance’s MiCA license application, shutting the largest exchange out of the European market.
Binance risks losing access to the entire European Union, according to rumors reported by Reuters. The Hellenic Capital Market Commission (HCMC) is reportedly ready to reject the MiCA license application submitted by the exchange through its Greek entity. If confirmed, the decision would prevent Binance from offering services across all 27 European Union member states from July 1, 2026 — the date on which the regulation’s transitional period expires.
Under the MiCA framework, crypto companies must obtain approval from a national regulator to acquire European passport rights, which allow them to operate across the entire bloc. Binance had chosen Greece as its regulatory base in Europe, citing the local workforce and operating environment as key factors. Co-CEO Richard Teng had publicly expressed confidence in the exchange’s ability to meet the requirements ahead of the deadline. Two sources cited by Reuters have, however, indicated that a rejection is imminent, while the HCMC declined to comment, citing confidentiality rules.
Binance responded by stating it had not received any formal rejection notice and believes its application complies with MiCA standards. In a thread published on X following the news, the exchange sought to reassure European users, stating: “Binance remains committed to its European users and will continue to operate in compliance with applicable regulations.” The company added that it is working to minimize service disruptions during the approval process.
Without a license in place by the end of June, Binance would have to suspend services to European customers or risk enforcement action from national regulators. Potential consequences include financial penalties and operational restrictions that would limit access to key markets such as France, Germany, and Italy. Europe represents a significant base of retail and institutional users, and any disruption could impact trading volumes and token flows on the platform.
