Binance is It is expected to lose permission to serve EU customers in July. after Greek regulators reportedly decided to reject its MiCA license application. Reuters reports: According to the new EU rules, called MiCACrypto companies have until the end of June to obtain a license that will allow them to continue serving customers across the block. Binance’s application, submitted to Greece’s market regulator, will be rejected, the people said. European regulators have been trying to rein in crypto exchanges, which allow people to trade cryptocurrencies like bitcoin around the world.
Under MiCA, crypto companies have to apply for licenses from regulators in each EU country, which they can use as a “passport” to operate across the 27-nation bloc. At stake is oversight of the multibillion-dollar crypto industry, which regulators have long warned could destabilize markets and harm investors if not properly monitored. The Greek rejection would mean that Binance will not receive the green light to operate in the EU, leaving the fate of Binance customers based in the bloc uncertain.
binance aware on A spokesperson for Binance, which has 300 million customers worldwide, previously said it has been seeking a MiCA license and has been working with regulators for 18 months. Binance believes it has met the requirements to be authorized by MiCA, the spokesperson said. He understood that Greece’s Hellenic Capital Market Commission had completed its review of the application and was deemed compliant. “HCMC has not given any formal indication otherwise,” the spokesperson told Reuters.
