Summary
- Walter Bloomberg, citing sources, reported that Binance’s Greek license application is set to be rejected and that the exchange could lose its authorization to provide services to EU customers.
- If MiCA authorization in Greece falls through, Binance could face constraints on continuing operations for EU customers.
- Market participants see the report as a factor that could affect Binance’s European business strategy, with whether major exchanges secure authorization under the MiCA framework emerging as a key gauge of the sustainability of crypto-asset services in the EU.
Forecast Trend Report by Period
Binance could face disruptions to its services for European Union customers after a report said its Greek license application under the bloc’s Markets in Crypto-Assets regulation, or MiCA, may be rejected.
Walter Bloomberg reported June 16, citing two sources, that Binance’s application in Greece is set to be denied. A rejection could cost the exchange its ability to provide services to EU customers.
MiCA is the EU’s unified regulatory framework for crypto-asset service providers. Under the regime’s passporting system, a company authorized in one member state can offer services in other EU countries.
Binance has been using Greece as its base for seeking MiCA authorization and broader access to the EU market. If approval in Greece falls through, the exchange could face restrictions on continuing to serve EU customers.
Binance said it believes it has met the requirements for MiCA authorization in the EU.
Market participants view the report as a potential variable for Binance’s European strategy. As the MiCA regime takes effect, authorization status at major exchanges is emerging as a key measure of whether crypto-asset services can continue across the EU.
Minseung Kang
minriver@bloomingbit.ioBlockchain journalist | Writer of Trade Now & Altcoin Now, must-read content for investors.
