Binance may lose access to users in Europe

Binance is facing serious pressure in Europe: the Greek regulator is preparing to reject the crypto exchange’s application for a MiCA license. Without this authorization, the company could lose access to the entire EU market as early as July 1.

According to sources, the rejection may be linked to political pressure. This significantly limits Binance’s ability to obtain regulatory approval in the EU through Greece.

Currently, France remains the exchange’s only realistic option for maintaining its presence in the European market. It is there that Binance continues to seek the necessary permits to operate under the new regulations.

Against the backdrop of these difficulties, the CEO of rival exchange OKX published an article sharply criticizing Binance. In his view, the company grew not because of better products, but thanks to so-called regulatory arbitrage—that is, operating through jurisdictions with more lenient rules.

The MiCA regulation is taking effect and forcing all major players in the crypto market to adapt to uniform EU standards. For Binance, which has relied on the flexibility of various jurisdictions for years, this is becoming a serious challenge.