Binance, the world’s largest cryptocurrency exchange, may be unable to serve European customers if its regulatory license application in Greece is rejected, Reuters reported on Tuesday.
Binance’s Market for Cryptocurrency (MiCA) license application, which must be approved by a deadline at the end of this month, is expected to be rejected by Greece’s financial watchdog, the Hellenic Capital Markets Commission (HCMC), the report said, citing two people familiar with the situation.
Binance said it has been pursuing the MiCA license for the past 18 months, including a comprehensive application process with Ho Chi Minh City, Greece.
“It is our understanding that Ho Chi Minh City has completed its review of the application and deemed it compliant with MiCA requirements, and that the application was also reviewed at the ESMA level,” a Binance spokesperson told CoinDesk via email.
The spokesperson also said: “Ho Chi Minh City has informed ESMA that it is of the view that the application is compliant and intends to proceed with the license and move towards approval at a future board meeting.”
