Binance asserts that its application for a European regulatory license is compliant, even in light of reports regarding its rejection by the Greek regulator HCMC. A report from Reuters indicated that the Greek regulator HCMC is poised to reject the EU crypto license application from the world’s largest crypto exchange.

— Crypto firms are required to secure a MiCA license to operate within the EU by the end of this month.

— Binance stated that the HCMC has concluded its assessment of the application and deemed it compliant with MiCA standards.

According to a Reuters report on Tuesday, Binance, the leading cryptocurrency exchange globally, might find it challenging to serve its European customers if the Greek regulatory license application is denied. The application for Binance’s Markets in Crypto Assets (MiCA) license, which requires approval by the end of this month, is reportedly set to be rejected by the Hellenic Capital Market Commission (HCMC) in Greece, citing insights from two sources familiar with the matter.

Binance has been actively pursuing a MiCA license for the past 18 months, which included an extensive application process with the HCMC in Greece.

A spokesperson from Binance informed Decryptnews via email, «Our understanding is that the HCMC completed its review of the application and found it compliant with MiCA requirements, and the application was also evaluated at the ESMA level.»

The spokesperson added that «HCMC communicated to ESMA that they believe the application is compliant and that they plan to advance the license and seek authorization at an upcoming Board meeting.»

Following speculation about seeking a license in Malta, where it previously had offices, Binance selected Greece as its MiCA jurisdiction. Reports from Greek media last year indicated that the exchange established a holding company in Greece in conjunction with the HCMC license application.

The Hellenic Capital Market Commission did not respond immediately to inquiries for comments.