Greece’s Hellenic Capital Market Commission (HCMC) is set to reject Binance’s application for a cryptocurrency services license in the European Union — a move that could force the world’s largest crypto exchange to cease serving EU customers as early as next month.
Deadline Looms Under MiCA Rules
Under the EU’s new Markets in Crypto-Assets (MiCA) regulation, crypto firms must obtain formal authorization by the end of June to continue operating across the bloc. Binance submitted its application to the Greek regulator — one of several national authorities designated to process such requests under MiCA’s decentralized approval framework. However, according to multiple reports cited by Reuters and Bloomberg, the HCMC plans to deny the application.
Binance’s Response: Compliance Claimed, Cooperation Emphasized
In an official statement, Binance said it filed a “complete and fully compliant” application with the HCMC over 11 months ago and has since engaged in close cooperation with the regulator. It noted that the HCMC itself acknowledged the application met MiCA requirements during its review.
The company added that it understands the HCMC completed its assessment and concluded the application complies with MiCA standards. It also believes the European Securities and Markets Authority (ESMA) reviewed the file and that the HCMC informed ESMA of its positive preliminary view — including intent to approve the license at an upcoming board meeting.
Commitment to Users and the EU Market
Binance emphasized its commitment to minimizing disruption for users and keeping them informed. It pledged to provide further details directly to customers before 30 June 2026 — outlining next steps, available options, and transition support.
The exchange reiterated its long-term commitment to Europe, stating it remains ready to operate under a truly harmonized MiCA-compliant regime. It also highlighted broader implications of the situation — warning that uncertainty around licensing could harm market liquidity, competitiveness, and even the EU’s tax base.
Notably, Binance had previously announced plans to create 100 high-paying jobs in Greece and contribute at least €200 million to the national economy — part of its bid to establish a regional hub.