Binance says its MiCA application has been deemed compliant by Greece’s regulator, disputing reports that the crypto exchange could face rejection ahead of the EU’s June licensing deadline.
Binance Pushes Back Against Rejection Claims
Crypto exchange Binance has responded to reports suggesting its application for authorization under the European Union’s Markets in Crypto-Assets (MiCA) framework could be rejected by Greece’s regulator.
According to Binance, its application was reviewed and considered compliant by the Hellenic Capital Market Commission (HCMC). The company stated that it has not received any formal indication that the application will be denied.
Reuters Report Raises Concerns
The statement comes after Reuters reported that Binance’s MiCA application in Greece is expected to be rejected, potentially preventing the exchange from serving customers across the European Union after the June regulatory deadline.
Under MiCA regulations, crypto firms must obtain authorization from an EU member state’s regulator to continue operating throughout the bloc. Without approval, exchanges may be forced to halt services for European users.
Why Greece Matters
Earlier this year, Binance selected Greece as its regulatory base for securing MiCA authorization. The company cited the country’s workforce, security environment, and strategic position within Europe as key reasons for choosing the jurisdiction.
Binance filed its application through its Greek entity, Binary Greece, with the goal of obtaining a regulatory passport that would allow operations across all 27 EU member states.
What Happens Next?
With the MiCA transition period ending soon, the outcome of Binance’s application is being closely monitored by the cryptocurrency industry. A rejection could significantly impact the exchange’s ability to operate within Europe, while approval would allow continued access to one of the world’s largest crypto markets.
Binance has said it will provide additional updates before the end-of-June deadline.
KEY TAKEAWAYS
•Binance says its MiCA application was deemed compliant by Greece’s regulator.
•Reuters reported the application could face rejection before the EU deadline.
•MiCA authorization is required for crypto firms operating across Europe.
•Greece was selected as Binance’s European regulatory hub.
•A final decision could determine Binance’s future access to EU markets.
