Binance Set To Lose Permission To Operate In EU (reuters.com)
- Reference: 0183916838
- News link: https://news.slashdot.org/story/26/06/16/1942225/binance-set-to-lose-permission-to-operate-in-eu
- Source link: https://www.reuters.com/business/finance/binance-set-lose-eu-licence-bid-permission-offer-services-bloc-sources-say-2026-06-16/
> Under new EU rules, [2]called MiCA , crypto firms have until the end of June to obtain a licence to allow them to keep servicing clients across the bloc. Binance's application, made to Greece's market regulator, is set to be turned down, the people said. European regulators have been attempting to rein in crypto exchanges, which allow people to trade cryptocurrencies such as bitcoin around the globe.
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> Under MiCA, crypto companies have to apply for licenses from regulators in individual EU countries, which they can use as a "passport" to operate throughout the 27-nation bloc. At stake is oversight of the multi-trillion-dollar crypto industry, which regulators have long warned could destabilize markets and harm investors if not properly supervised. The Greek rejection would mean Binance will not be given the green light to operate in the EU, leaving the fate of Binance's customers based in the bloc uncertain.
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> Binance [3]posted on X after the Reuters report was published that it intends to "support an orderly process and minimise disruption to our users", without giving further details. A spokesperson for Binance, which has 300 million customers worldwide, earlier said it has been pursuing a MiCA licenze and had worked with regulators for 18 months. Binance believes it has met the requirements to be MiCA authorized, the spokesperson said. It understood that Greece's Hellenic Capital Market Commission had completed its review of the application and it was considered compliant. "HCMC has given no formal indication of the contrary," the spokesperson told Reuters.
[1] https://www.reuters.com/business/finance/binance-set-lose-eu-licence-bid-permission-offer-services-bloc-sources-say-2026-06-16/
[2] https://www.esma.europa.eu/esmas-activities/digital-finance-and-innovation/markets-crypto-assets-regulation-mica
[3] https://x.com/binance/status/2066936341342933215
Why Greece? (Score:2)
If (as the summary says) you can get certified by any individual EU country and then "passport around" to operate everywhere in Europe ... why would you not go to a country where you had a deal with the regulator and get your certification rubber stamped? Why go to someone who might say "No."
Re: (Score:3)
I assume they'd already jurisdiction-shopped and were expecting it to be rubber-stamped in a country that's somewhat more dysfunctional (try setting up a business in Greece some time) than other EU countries which would have given them a harder time over it.
If only those pesky Europeans were like the US, put Kushner on your board of directors, make a donation to the ballroom, and all of your regulatory problems just... go away.
Jesus when you can't even afford your bribes (Score:2)
You know that the industry is hurting.
Re: Jesus when you can't even afford your bribes (Score:2)
If only they paid in Drachmas, like in Zeus: Master of Olympus...
Nice work. (Score:2)
Good job Greece, and good job EU.
Better yet (Score:1)
Define crypto as share trading, and tax it accordingly.
Re: Better yet (Score:2)
A share of what? A share of nothing is still nothing.