Cryptocurrency exchange platform Binance could lose its authorization to operate in the European Union starting next month, according to several sources close to the matter. The reason: the likely rejection of its license application under the new European regulations on digital assets.
According to these sources, Binance's application to the Greek financial markets regulator is expected to be rejected. This refusal would prevent the platform from continuing to provide its services to European clients from July onwards, amidst stricter regulations.
This development is part of the European MiCA (Markets in Crypto-Assets) regulation, which requires companies in the sector to obtain authorization to operate in all 27 member states. This license, once obtained in an EU country, normally provides a regulatory "passport" for the entire European market.
Binance, the world's largest cryptocurrency exchange, is particularly vulnerable to these new requirements. The company is already under increased regulatory scrutiny in several jurisdictions due to risks to investor protection and the stability of the financial system.
European authorities are seeking to better regulate a sector valued at several trillion dollars, which is raising concerns about its volatility and potential impact on traditional financial markets.
Binance has not yet publicly responded to this information. If the decision is confirmed, it could represent a major turning point for the platform's activity in Europe and for the entire cryptocurrency market on the continent.
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