Binance Faces Potential EU Operations Halt Over MiCA License
- A report indicates that Binance‘s MiCA application is likely to be denied by the EU.
- The firm applied for a license through Greece’s HCMC and claims compliance with MiCA requirements.
- Without approval, Binance would need to cease operations across the EU.
- The company has been working with regulators for over a year to secure the license.
- Approximately 30% of crypto firms in France had applied for MiCA compliance by January.
Binance is at risk of having to halt its services in the European Union if its MiCA application is denied, as reported by sources familiar with the matter. The firm has been actively pursuing regulatory approval and claims it meets all necessary criteria, yet faces potential operational disruptions if not granted a license.
If denied, Binance will have to stop its activities across EU nations despite efforts to comply with MiCA regulations, impacting its ability to serve European customers effectively. Source
