Source: Insider <p>Insiders: Binance's Greece license application rejected, facing risk of losing EU service eligibility</p>

BlockBeats News, June 16th, according to Reuters citing two sources familiar with the matter, Binance is expected to lose its license to serve EU customers within weeks as its license application is likely to be rejected.

Under the EU's new Markets in Crypto-Assets (MiCA) regulations, crypto companies must obtain a license by the end of June or they will not be able to continue operating within the EU. Binance's license application submitted to the Greek regulatory authority is expected to be turned down.

A representative from the Hellenic Capital Market Commission declined to comment on Binance's license application citing confidentiality rules. Without this license, Binance will not be able to continue its operations in the EU as of early July.

A Binance spokesperson stated that the company has been actively applying for the MiCA license and has maintained constructive communication with regulatory authorities over the past 18 months, including submitting a full application process to the Greek HCMC.