Binance Says EU Licensing Bid Remains Compliant Despite Report of Greek Rejection

An EU crypto licensing application from the world’s largest exchange is expected to be rejected by Greece’s regulator, the Hellenic Capital Market Commission (HCMC), according to a Reuters report.

Binance, the largest cryptocurrency exchange globally, could be prevented from serving customers in Europe if its Markets in Crypto Assets (MiCA) license application in Greece is rejected, Reuters reported on Tuesday.

The report, citing two people familiar with the matter, said the application—subject to approval before a month-end deadline—is set to be turned down by the Greek watchdog.

Binance said it has been working on obtaining a MiCA license for the past 18 months, including a detailed application process with the HCMC.

“Our understanding is that the HCMC completed its review and found the application compliant with MiCA requirements, and that it was also assessed at the ESMA level,” a Binance spokesperson told CoinDesk via email.

The spokesperson added that the HCMC had communicated to ESMA that the application met compliance standards and that it intended to move forward with authorization at an upcoming board meeting.

Binance selected Greece as its MiCA jurisdiction after earlier speculation that it might pursue licensing in Malta, where it previously maintained operations. The exchange also established a Greek holding entity as part of its regulatory application, according to local media reports last year.

The Hellenic Capital Market Commission has not yet issued a public response to requests for comment.