An EU crypto licensing application filed by the world’s largest cryptocurrency exchange is expected to be rejected by Greece’s regulator, the Hellenic Capital Market Commission (HCMC), according to a Reuters report.
Binance could face restrictions on serving European customers if its Markets in Crypto-Assets (MiCA) license application in Greece is denied, Reuters reported on Tuesday.
Citing two people familiar with the matter, the report said the application—due for approval before a month-end deadline—is likely to be rejected by the Greek financial watchdog.
Binance said it has been pursuing a MiCA license for the past 18 months, including a full application process with the HCMC in Greece.
“Our understanding is that the HCMC completed its review of the application and deemed it compliant with MiCA requirements, and that it was also reviewed at ESMA level,” a Binance spokesperson told CoinDesk via email.
The spokesperson added that HCMC had informed ESMA that it considered the application compliant and intended to advance the license toward approval at an upcoming board meeting.
Binance chose Greece as its MiCA jurisdiction after earlier speculation that it might seek approval in Malta, where it previously operated offices. The exchange also established a Greek holding company as part of the licensing process, according to Greek media reports last year.
The Hellenic Capital Market Commission has not yet responded publicly to requests for comment.
