Binance’s effort to obtain a Markets in Crypto-Assets (MiCA) license, essential for seamless operation across all 27 EU member states, is on the verge of collapse. Sources indicate the Hellenic Capital Market Commission in Greece is poised to reject the application filed through its subsidiary, Binary Greece.
If the denial is finalized, the exchange will be locked out of the European market when the MiCA transitional grace period ends on July 1, 2026. This marks a continuation of regulatory setbacks for Binance, which previously withdrew or was denied entry in the Netherlands, Germany, Belgium, Cyprus, and Austria in 2023.
The exchange had chosen Greece as a strategic launchpad, citing labor availability and security. Despite engaging firms like Ernst & Young and KPMG to support the bid, Binance was notably absent from the authorized MiCA service providers list as of June 2026. Only 14 platforms had received full authorization out of 183 total tracked applications.
Binance does hold pre-existing, country-specific licenses in France, Italy, and Spain under older frameworks. However, these permissions will expire with the July 1 transitional deadline. Estimates suggest roughly 75% of current EU crypto operators may similarly lose their ability to provide services. The competitive void is expected to benefit exchanges like Coinbase and Kraken, which have already secured MiCA authorization.