Binance, the world’s largest cryptocurrency exchange, is on the brink of losing access to the European Union after its application for a Markets in Crypto-Assets (MiCA) license in Greece faces rejection, according to Reuters reporting on the matter.

The decision, if confirmed, would prevent Binance from offering services across the 27-member bloc when the MiCA transition period ends on July 1. Under the new regulatory framework, crypto firms must secure approval from a national regulator to gain passporting rights across the EU.

Binance submitted its application through a Greek entity earlier this year, positioning the country as its regulatory base in Europe. The exchange pointed to…

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