According to a Reuters report citing two sources, Greece's Hellenic Capital Market Commission (HCMC) is expected to deny Binance's MiCA license application before the June 30 deadline. Binance stated on Tuesday that it believes it has complied with MiCA requirements and that the HCMC completed its review and considered the application compliant. The exchange established a holding company in Greece in December and formally applied for a MiCA license in January. If approved, Binance could passport its services to other EU nations; if denied, it must cease EU operations. Binance posted on X that it aims to minimize disruption and keep users informed, adding in a blog post that Europe remains central to its long-term plans. In January, French regulators noted about 90 crypto firms operating without MiCA compliance, with 30% having applied. Last year, France threatened to prevent passporting of MiCA licenses, pushing oversight to ESMA. Binance noted its application was reviewed at ESMA level as well.

Key facts

• Reuters reports Binance likely to be denied MiCA license by Greece's regulator.
• Binance claims its application was deemed compliant by Greek authorities.
• Denial would force Binance to cease EU operations; approval allows passporting.
• France had earlier raised concerns about non-compliant crypto firms in EU.
• Binance says Europe remains central to its long-term plans.
• Application also reviewed at ESMA level, says Binance.