Reuters reported June 16 that Greece's Hellenic Capital Market Commission is set to deny Binance's MiCA license application before the June 30 deadline, a decision that would bar the world's largest crypto exchange from all 27 EU member states. Binance disputes the finding, saying the regulator reviewed the filing and deemed it compliant.

The stakes for the exchange's European operations are immediate. MiCA's passporting structure works as a single key: a license from any one EU member-state regulator authorizes the holder to operate across the entire bloc, covering markets such as France, Spain, and Germany, without separate national approvals. Greece is Binance's chosen jurisdiction. If the HCMC rejects the application, there is no secondary path before full enforcement begins July 1.

Binance filed through a Greek subsidiary established in December 2025, submitting the formal application in January 2026. In a statement reported by CoinDesk, the exchange said: "Our understanding is that the HCMC completed its review of the application and considered it compliant with MiCA requirements, and that the application was also reviewed at ESMA level." Binance further stated the HCMC had "informed ESMA that it was their view that the application was compliant and that they intended to progress the licence and move to authorise at an upcoming Board meeting." The company says it has worked with European regulators for 18 months.

Reuters placed that account in direct conflict with its reporting. The agency cited two unnamed sources saying the rejection will arrive before the June 30 deadline. Neither side has produced a formal document. The HCMC has not commented publicly.

The practical consequences fall on Binance's European retail customers. MiCA's transitional period, which allowed exchanges to continue operating under national rules while their applications were processed, expires June 30. From July 1, only licensed exchanges may serve EU retail customers. Without authorization, Binance would need to wind down European services, and affected users would need to transfer accounts to MiCA-licensed rivals. Coinbase and Kraken, both of which hold EU licenses, are among the alternatives available.

Greece was not Binance's first choice of jurisdiction. CoinDesk reported the exchange previously considered Malta before settling on Greece for its MiCA application.

Until the HCMC issues a formal decision, the dispute is unresolved. Reuters's sources say rejection is coming. Binance says the regulator found it compliant and intended to authorize. The June 30 deadline means either account will be confirmed or refuted within days.

Sources