Binance, the world's largest cryptocurrency exchange, may be unable to serve EU customers if its MiCA license application in Greece is rejected by the end of this month. According to Reuters, the Hellenic Capital Market Commission (HCMC) is expected to reject the application. However, Binance claims that the HCMC completed its review and deemed the application compliant with MiCA requirements, and that the application was also reviewed at the ESMA level. Binance chose Greece as its MiCA jurisdiction after speculation about Malta, and set up a Greek holding company for the application. The outcome is critical for Binance's EU operations under the new regulatory framework.

Key facts

• Binance's MiCA license application in Greece may be rejected by HCMC.
• Deadline for EU MiCA license approval is end of this month.
• Binance claims HCMC found application compliant with MiCA.
• Application also reviewed at ESMA level, according to Binance.
• Binance set up a Greek holding company for the license process.