Binance, the world’s largest cryptocurrency exchange, is set to lose its bid for a European Union licence after Greece’s financial regulator is expected to reject its application under new Markets in Cryptoassets (MiCA) rules, forcing the company towards a potential exit from the bloc within weeks, Reuters reported on June 16, 2026.

The decision relates to EU-wide rules requiring crypto firms to secure authorisation in at least one member state by the end of June in order to continue operating across the bloc. Binance submitted its application through Greece’s Hellenic Capital Market Commission (HCMC), but approval is now expected to be denied, according to people familiar with the matter.

Without a licence, Binance would lose its ability to offer services to EU clients from the start of July, marking a significant regulatory setback for a company that has faced scrutiny across multiple jurisdictions. The HCMC declined to comment on the status of the application, citing confidentiality obligations.

Binance has continued to argue that its application meets the requirements of the MiCA framework. A company spokesperson told Reuters: “Binance believes it has met the relevant requirements to be MiCA authorised,” and added that “HCMC has given no formal indication of the contrary,” noting that the regulator had completed its review.

The company has also sought to reassure customers over the potential disruption. Eleanor Hughes, Binance’s chief legal officer, told Reuters that “Regardless of that final outcome, our priority is to minimise any disruption and undue harm for users and ensure they are treated fairly,” as preparations continue for a possible regional withdrawal.

The expected decision comes after Binance co-chief executive Richard Teng previously indicated that the company had selected Greece as a potential regulatory base in Europe, citing its workforce and security profile. The setback would mark one of the most significant tests yet of the EU’s new crypto regulatory regime, which aims to harmonise oversight across member states and tighten compliance standards for digital asset firms.

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