Binance Faces Potential EU Market Access Disruption as MiCA Deadline Nears

• Reports say Binance could be forced out of the EU market if its MiCA application through Greece’s HCMC is rejected before the regulation’s full enforcement takes effect.

Binance, the world’s largest crypto exchange by trading volume, may face a significant setback in Europe as questions grow over its authorization under the EU’s Markets in Crypto-Assets Regulation (MiCA).

Potential Loss of EU Market Access

According to Reuters, Binance submitted its MiCA application in Greece through the Hellenic Capital Market Commission (HCMC), the country’s market and securities regulator. Sources say the company filed its documents around January.

If approved, the filing would have allowed Binance to use MiCA’s passporting rules, enabling it to operate across the EU’s 27 member states without seeking separate licenses in each country. However, Reuters cited two people familiar with the matter as saying the company now risks rejection of its Greek application.

With the grace period for MiCA’s full enforcement set to end this June, Binance could lose permission to offer its products and services in the EU by July. That would place it alongside Tether, the world’s largest stablecoin issuer, which has also faced challenges in maintaining its market-access advantage in the region.

Binance Rejects Reports of MiCA Rejection

The reports did not specify why the HCMC might reject Binance’s MiCA application. Binance, however, strongly disputed the claims.

A company spokesperson said the Greek regulator has not formally notified Binance of any rejection and has not made any public announcement regarding its filing. Richard Teng, Binance’s CEO, also reassured European users that the company remains committed to operating under MiCA-compliant rules.

“We are committed to our European users and to operating under a clear, fair, and harmonised MiCA framework,” Teng said. “We are dedicated to securing our MiCA licence and remain ready to operate under a fair, predictable, and genuinely harmonised European framework.”

Teng said Binance will continue updating users on the progress of its MiCA license application and added that customer assets remain secure.

Binance’s Strong European Footprint

Binance serves more than 300 million customers across 180 countries, although it has not disclosed how many users are based in the EU.

Analysts have noted that Binance maintains a significant presence in Europe, with estimated market penetration of approximately 51% across the region.

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