(June 16): Binance Holdings Ltd is making preparations to stop providing services in the European Union, as a deadline to receive a licence to operate in the bloc draws near and the crypto exchange has yet to receive approval from Greece’s financial regulator.
Binance has received “no formal indication” from Greece’s Hellenic Capital Market Commission that its application has been denied, but the company plans to notify customers in the EU as soon as Tuesday that it may have to exit the region, Eleanor Hughes, Binance’s chief legal officer, said in an interview.
The world’s largest crypto exchange had applied for a licence in Greece under the EU’s Markets in Cryptoassets regulation, or MiCA, last year. Crypto businesses are required to obtain a MiCA licence in at least one member state by July or face winding down their business in the region.
“Regardless of that final outcome, our priority is to minimise any disruption and undue harm for users and ensure they are treated fairly,” Hughes said.
The HCMC didn’t immediately respond to a request for comment. Reuters previously reported on the status of Binance’s EU licence application.
