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▲ Greece, Binance/AI generated image
Binance, the world's largest cryptocurrency exchange, is facing a significant regulatory crisis that could lead to the loss of its operating rights in the European Union.
According to crypto media outlet BeInCrypto on June 16 (local time), the possibility of Binance's application for authorization under Greece's Markets in Crypto-Assets (MiCA) being rejected has been raised. Reports indicate that the Hellenic Capital Market Commission (HCMC) plans to dismiss the application. Two sources conveyed this information.
Receiving MiCA authorization allows services to be provided in all 27 member states of the European Union. Exchanges that have not obtained permission by July 1, when the transitional period ends, must cease operations. The risks of regulatory actions, fines, and country-specific blockages also increase.
Binance applied for authorization through its Greek entity in January 2026. Co-CEO Richard Teng cited Greece's workforce and security environment as reasons for selecting it as a European business hub. He stated, “We comprehensively reviewed talent, safety, and security issues and determined that Greece provides a good foundation for European expansion.”
Binance refuted the possibility of rejection. A company spokesperson stated, “We have constructively collaborated with regulators over the past 18 months and believe we have met all MiCA requirements.” They further claimed that HCMC confirmed the compliance status of the application after completing its review. HCMC did not respond, citing confidentiality regulations.
An official rejection decision has not yet been announced. Binance continues discussions with regulatory authorities. Coinbase and Kraken, which have secured EU authorization, are now in a position to attract users seeking compliant exchanges.
*Disclaimer: This article is for investment reference only, and we are not responsible for any investment losses based on it. The content should be interpreted for informational purposes only.*
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