Binance, the world’s largest cryptocurrency exchange, may not be able to serve its customers in Europe if its application for a regulatory license in Greece is rejected, as Reuters reported on Tuesday.
Binance’s Crypto Asset Markets (MiCA) license application, which must be approved before the deadline at the end of this month, is set to be rejected by Greece’s financial watchdog, the Hellenic Capital Market Commission (HCMC), according to the report, which cited two people familiar with the matter.
Binance said it has been seeking to obtain a MiCA license for the past 18 months, including through a comprehensive application process with HCMC in Greece.
“Our understanding is that HCMC has completed its review of the application and deemed it compliant with MiCA requirements, and that the application has also been reviewed at the ESMA level,” a Binance spokesperson told CoinDesk via email.
The spokesperson also said that “HCMC has informed ESMA that it considers the application to be compliant and that it intends to progress the licensing and proceed with authorization at an upcoming board meeting.”
