Pushing Back at Reuters: Inside Binance’s Fight for Its European Future

Citing people familiar with the matter, Reuters reported that the world’s largest cryptocurrency exchange could be forced to stop service to European Union customers as early as next month after its application for a key regulatory license is set to be rejected.

The threat comes from the EU’s Markets in Crypto-Assets (MiCA) framework, which requires digital asset firms operating within its borders to obtain authorization from a national regulator.

Binance to Drop Out of EU?

The report claimed that the exchange’s application through Greece’s Hellenic Capital Market Commission (HCMC) is expected to be denied, which would leave it without the authorization needed to continue serving clients from the bloc after the June 30 deadline.

If the situation escalates, this potential setback could become Binance’s largest regulatory hurdle in Europe since the implementation of MiCA a few years ago. The framework is designed to bring crypto firms under a unified regulatory regime, and even Hungary has turned the tide after the change in administration earlier this year.

As with essentially all reports from legacy media that might be harmful to Binance in any way, the company has taken a strong stance against those claims. A spokesperson pushed back against the coverage from Reuters, indicating that the exchange has worked with regulators for approximately 18 months and understands that the Green watchdog completed its review, with the application considered compliant.

Binance further said it has not received any formal indication from the HCMC that its application might be rejected.

Teng Concurs

Binance CEO Richard Teng also weighed in on the matter, saying the company is “dedicated to Europe.” He added that Binance and the team are “dedicated to securing our MiCA license and remain ready to operate under a fair, predictable, and genuinely harmonized European framework.”

In a follow-up post, he reassured the company’s user base of millions that their assets “remain secure.”

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