The Binance, the world's largest cryptocurrency exchange will lose permission to offer services to European Union customers within a few weeks, as her application for permission is to be rejected, two people who know the issue told Reuters.
According to the new EU rules, called MiCA, cryptocurrency companies have a deadline until the end of June to obtain permission to allow them to continue operating throughout the Union.
To be rejected by the Hellenic Securities and Exchange Commission
Binance's request, submitted to the Greek market regulator, is to be rejected, the sources indicated.
The representative of Capital Market Commission refused to comment on Binance's licence application, citing the confidentiality rules. Without permission, Binance would not qualify to continue operating in the EU since the beginning of July.
Binance's representative said he was looking for issue of an MiCA licence and has worked constructively with regulatory authorities in the last 18 months, including through an integrated application procedure with the Capital Market Commission of Greece.
Binance believes that it has met the relevant conditions for obtained MiCA license, said the representative, adding that he understood that the Securities and Exchange Commission had completed the examination of the application and that it was considered compatible with MiCA's requirements.
«The Securities and Exchange Commission has not given any official indication on the contrary», the spokesman told Reuters.
The co-director of Binance, Richard Teng., stated in February that Greece's workforce and security profile gave it the advantage over the largest financial centres for its headquarters in Europe.
Teng, a former regulator in Singapore and Abu Dhabi, then said he would let the EU determine whether Binance would receive its license by the July deadline.
Source: Reuters
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