Binance's MiCA license in the European Union remains uncertain with less than two weeks to go before the new rules take full effect. In a statement the exchange released after rumors surfaced about licensing difficulties, Binance said the team is continuing to pursue authorization to operate in the EU and expects to provide an update before June 30.
On June 16, Reuters reported that Greece's Hellenic Capital Market Commission (HCMC) is preparing to reject Binance's MiCA license application. According to the agency, the world's largest crypto exchange could face restricted access to the European market as early as July.
Binance called Europe one of its key business priorities and confirmed its readiness to operate within the EU's unified digital asset regulatory framework. The company believes that prolonging the licensing process could lead to reduced liquidity, reduced competition, and fewer service options for European users.
The exchange also emphasized that over the past two years it has significantly expanded its compliance divisions, growing its team of compliance specialists to more than 1,500 people and strengthening its internal control systems.