Binance is in discussions with European Union regulators and Greek authorities over a licence application that could determine its future in the bloc.
The outcome of these talks is critical because a rejection would potentially end the exchange's operations across the EU. Under the Markets in Crypto-Assets (MiCA) framework, a single licence allows a firm to operate across all member states.
A source quoted by Reuters said the Greek regulator is set to turn down the application, which could end EU operations by July [3]. This follows the withdrawal of a licence bid in May 2026 [2].
Binance has contested the notion that a total exit is imminent. A Binance spokesperson said, "We remain in close talks with EU regulators as we seek to secure the necessary licence" [3]. The company has operated for nine years [4] and continues to seek regulatory approval to serve its EU client base.
However, the transition to the MiCA framework has already shifted how some users interact with the platform. Richard Teng, co-CEO of Binance, said that 70% of exiting EU users chose self-custody after MiCA [1]. This move places those assets beyond the reach of regulators.
While the company maintains its commitment to the region, it is simultaneously seeking additional licences in Asia to diversify its regulatory footprint [2]. The Greek regulator is expected to reach a final decision this month [3].
“"We remain in close talks with EU regulators as we seek to secure the necessary licence."”
The tension between Binance and EU regulators highlights the friction of implementing MiCA, the first comprehensive crypto-asset regulatory framework. If the world's largest exchange is unable to secure a passportable licence, it may signal that the EU's compliance standards are too stringent for existing global platforms, potentially accelerating the trend toward self-custody and decentralized finance over centralized exchanges.
