Crypto exchange Binance could face operating ban in EU from July

The world's largest crypto exchange, Binance, is facing a potential ban from operating in the EU. This is because, by the end of June, crypto trading platforms must obtain a corresponding EU license, but Binance's application filed in Greece is reportedly set to be rejected. Approval in any EU country would extend crypto trading authorization to the entire EU, but this also applies to rejections. However, Binance promises to continue working towards obtaining the license.

In May 2023, the EU Parliament adopted strong regulation of crypto markets to combat money laundering. This includes the “Markets in Crypto Assets” regulation (short: MiCA). This MiCA regulation is intended to better protect consumers and investors from fraudulent activities and manipulations on crypto marketplaces. Therefore, providers of crypto-asset-related services require authorization from a national financial supervisory authority within the EU.

Application for EU crypto license at risk of rejection

The deadline for such authorization expires at the end of June 2026. Now Reuters reports, citing two individuals familiar with the matter, that Binance's application filed in Greece will be rejected. This would likely mean Binance can no longer operate crypto trading in the entire European Union, across all 27 member states.

Binance has reacted immediately. The crypto exchange, with over 300 million registered users worldwide according to its statements (as of January 2026), does not mention the looming rejection in the EU but stated on X that it “remains fully committed to securing our MiCA license and operating under a unified European framework.” The company is therefore continuing to work with regulators to minimize disruptions for users.

Binance tries to reassure users

In response to Reuters, a Binance spokesperson stated that the crypto exchange has been working with European regulators for a year and a half to obtain the MiCA license. According to its assessment, Binance meets the requirements of the MiCA regulation, and the Hellenic Capital Market Commission has so far given “no formal indication of the contrary.” The Greek authorities declined to comment on the Binance application, citing confidentiality obligations.

In a comprehensive statement, Binance writes that it remains committed to its European users. Therefore, it will continue to pursue obtaining the MiCA license. The crypto exchange promises further information on this before the end of June. However, that is less than two weeks away.

(fds)