💰 Scandal within a respected family: the Greek regulator🇬🇷 is preparing to reject Binance’s MiCA license application

💰 Scandal within a respected family: the Greek regulator🇬🇷 is preparing to reject Binance’s MiCA license application

The cryptocurrency exchange risks losing access to the European market as early as next month. At stake is access to a crypto industry worth trillions of dollars.

🔣 During the preparation and submission of its comprehensive application, the platform worked closely with the HCMC (Hellenic Capital Market Commission) for approximately 18 months. According to Binance, the review process has now been completed, and the commission concluded that the application meets MiCA requirements.

🔣 Binance also states that the documentation underwent parallel review by ESMA, the independent European regulator responsible for investor protection and ensuring the stability and orderly functioning of financial markets.

🔣 However, Reuters, citing unnamed sources, reports the opposite: the Greek regulator is preparing to reject the license. The HCMC declined to comment, citing confidentiality rules.

🔣 Time is running out: companies that fail to obtain a license before the end of June will no longer be able to operate in the European Union, as the transitional period expires on July 1.

🔣 Context: the European Union previously had around 3,000 registered crypto companies, yet by May only 194 had secured a MiCA license. The scale of this regulatory consolidation is significant, particularly when contrasted with the more crypto-friendly policies pursued by the United States🇺🇸 during the administration of Donald Trump.

🔣 The platform has pledged to provide a further update to its European users before June 30.
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