Binance Responds to Greece Report, Says European Regulatory Filing Is Fully Compliant

A crypto licensing application submitted in the EU by the world’s largest 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) authorization in Greece is ultimately denied, Reuters reported on Tuesday.

The report, citing two people familiar with the matter, said the application—set for approval before a month-end deadline—is likely to be rejected by the Greek financial regulator.

Binance said it has been working toward MiCA approval over the past 18 months, including a full review process with the HCMC in Greece.

“Our understanding is that the HCMC completed its review and considered the application compliant with MiCA requirements, and that it was also reviewed at ESMA level,” a Binance spokesperson told CoinDesk via email.

The spokesperson added that the HCMC had informed ESMA that it viewed the application as compliant and intended to proceed with authorization at an upcoming board meeting.

Binance selected Greece as its MiCA jurisdiction after earlier speculation that it might pursue approval in Malta, where it previously operated. The exchange also established a Greek holding company as part of the regulatory process, according to local reports.

The Hellenic Capital Market Commission has not yet issued a public response to requests for comment.