- Binance's Greek MiCA application may be rejected.
- EU crypto firms must obtain MiCA approval by July 1.
- Binance says it has met all regulatory requirements.
- A rejection could force Binance to halt EU services.
Binance could face a major challenge in Europe after reports suggested its application for a MiCA license in Greece may be denied.
Under the European Union's Markets in Crypto-Assets (MiCA) framework, crypto companies must secure regulatory approval to continue operating across member states. The transition period ends on July 1, leaving little time for firms that have not yet received authorization.
According to Reuters, sources familiar with the matter expect Greece's regulator to reject Binance's application. However, Binance strongly disputes the report, stating that it has worked closely with regulators throughout an 18-month review process and has not been informed of any pending rejection.
If Binance fails to secure MiCA approval before the deadline, it may be forced to suspend services for customers throughout the European Union.
The development comes as Binance continues rebuilding its regulatory reputation following its $4.3 billion U.S. settlement in 2023. CEO Richard Teng has made regulatory compliance a key priority and recently reaffirmed Binance's commitment to operating under Europe's new crypto rules.
