Binance Faces Potential EU Market Exit After Greek MiCA Licence Application Reportedly Rejected
By
Jahnu Jagtap
Front-window bakery material. Catches the eye, delivers the goods.
Summary
Binance, the world's largest crypto exchange, may lose access to EU clients from July as its application for a MiCA licence in Greece is reportedly set to be rejected by the Hellenic Capital Market Commission. The rejection would prevent Binance from operating under the EU's Markets in Crypto-Assets Regulation (MiCA) after the transition period ends, potentially forcing the exchange to cease regulated services across the European Union.
Key quotes
· 3 pulledBinance, the world's largest crypto exchange, may lose permission to serve European Union clients within weeks as its MiCA licence application in Greece faces reported rejection.
According to Reuters, two people familiar with the matter said Binance's application to Greece's Hellenic Capital Market Commission (HCMC) is set to be turned down.
Under the EU's Markets in Crypto-Assets Regulation, crypto-asset service providers need authorisation to continue operating across the bloc after the transition period ends.
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