Binance May Lose EU License: What Does This Mean for Belgian Crypto Investors?

In short

According to an exclusive Reuters report, Binance, the world's largest cryptocurrency exchange, is reportedly at risk of failing to secure a MiCA license in the European Union. Greece's financial regulator (HCMC) is said to be preparing to reject Binance's licensing application. Without a MiCA license, Binance would no longer be allowed to serve EU customers, including Belgian investors, from July 1, 2026 onward.

This follows earlier reports that USDT (Tether) may also face restrictions under MiCA, limiting its availability to European users. Investors holding assets on Binance should closely monitor developments and consider taking timely action if necessary.

What's going on?

According to a Reuters report from June 16, 2026, based on two sources familiar with the matter, the Greek market regulator (the Hellenic Capital Market Commission, abbreviated HCMC) is about to reject Binance's MiCA license application. Binance submitted this application in January 2026 through a Greek subsidiary.

Binance itself disputes this and states that the HCMC considered the application compliant and was moving toward approval. The regulator itself has not yet issued an official statement. Binance announced it would provide an update by June 30, 2026 at the latest.

This news comes shortly after earlier reporting on the restrictions on USDT within the EU, which we previously wrote about in our article on MiCA and CASPs. The pattern is clear: the EU is tightening the reins significantly around non-compliant crypto providers and assets, and large, well-known names are no exception.

Quick refresher: what is MiCA again?

For a more detailed discussion, we refer to our article on MiCA and CASPs. In short: MiCA (Markets in Crypto-Assets) is the European regulation that determines the conditions under which crypto-asset service providers (CASPs), such as Binance, may operate within the EU. A license in one member state grants access to the entire internal market via the European passport. The transition period for providers already active expires on July 1, 2026. Anyone without a license by then is legally no longer allowed to serve European customers.

What does this mean concretely for Belgian Binance users?

If the rejection becomes final, Binance will effectively lose the right to serve European, and therefore also Belgian, customers as of July 1, 2026. This immediately raises the question of what happens to existing accounts and holdings.

Based on how similar situations are handled elsewhere and the guidelines of the European regulator ESMA, the following scenario emerges:

• No new deposits. Platforms without a license must stop accepting new deposits from EU customers.

• Mandatory "orderly wind-down". ESMA expects non-licensed providers to implement an orderly wind-down plan, under which customers are informed in advance so they can move their holdings.

• Holdings are not "confiscated". Your crypto assets remain in principle your property. The problem is not loss of ownership, but loss of access to the service itself: for example, you would no longer be able to trade, and might only be able to withdraw or transfer holdings.

• Considerable uncertainty remains. It is currently not established how much time users will be given to move their holdings, nor how this would work in practice for Binance's 300 million customers worldwide. Some countries, such as France, take a notably strict approach and threaten non-licensed providers with blacklists, website blocking, and even criminal prosecution.

The key message: if the license is indeed denied, Belgian Binance users will probably not lose their crypto, but they will lose normal access to the platform. This could mean that trading is suspended and that only withdrawals or transfers remain possible, potentially within a limited time window.

Binance disputes the rejection

To be clear: Binance denies the reporting. The company maintains that it has acted in good faith. A spokesperson stated that Binance has worked with the Greek regulator (the Hellenic Capital Market Commission, HCMC) over the past year and a half and submitted a detailed file.

Binance states: Our understanding is that the HCMC completed its review of the application and considered it compliant with MiCA requirements. Our understanding is also that the application was subject to review at European Securities and Markets Authority (ESMA) level.

The exchange states that it has met all the necessary MiCA criteria and believes that the HCMC, in its assessment, determined that the application fully complies with the requirements. Furthermore, Binance claims it has not received any official notification indicating a rejection. The HCMC itself has not made any public statement on this to date.

The banking problem: even with a "successful" withdrawal

As we already noted in our article on MiCA and CASPs, there is a second, less visible problem.

Even if your Binance account is not blocked and you are able to convert your crypto assets to euros without issue, this does not automatically mean your Belgian bank will accept that transfer without problems either. Belgian banks attach considerable importance in practice to whether the origin of the funds comes from a MiCA-licensed provider. Transactions from platforms that do not (or no longer) hold a valid license can therefore more readily lead to:

• additional questions about the origin of the funds;

• delayed processing of the transfer;

• in the worst case, a refusal by the bank to accept the deposit.

In other words: even if your money successfully leaves your Binance account, this does not guarantee that it will reach your Belgian bank account without a hitch. This risk increases the longer Binance were to remain active without a valid EU license.

What do we recommend to Belgian investors?

1. Closely follow Binance's official communications, as well as reporting from the Greek regulator (HCMC) and the European Securities and Markets Authority (ESMA). Binance itself announced an update before June 30, 2026. We are also closely monitoring this situation.

2. Regularly check the official ESMA register of licensed CASPs, which is updated weekly, to verify whether Binance (or the specific legal entity with which you have an agreement) holds a valid license or not.

3. Don't wait until the last moment. If the license is definitively rejected, it is advisable to think in good time about switching to a licensed exchange or to a self-custody wallet, before any wind-down period begins.

4. Document your transactions carefully. Any switch to another platform or conversion to euros remains tax-relevant. Keep transaction records for your tax return.

5. Be prepared for additional questions from your bank regarding transfers coming directly from Binance, especially if this occurs after the transition period has already expired.

Conclusion

At the time of writing, this matter remains in an uncertain phase: Reuters is relying on sources, and neither the Greek regulator nor Binance has given a definitive, official confirmation. Still, the expected consequences, combined with the earlier reporting on USDT, point to a clear trend: the EU is no longer making exceptions for big names in the crypto sector when it comes to MiCA compliance.

For Belgian investors with holdings on Binance, the message is clear: keep closely following developments, and don't wait until July 1, 2026 to take action if that should prove necessary. We will continue to monitor this matter and will update this article as soon as more clarity becomes available.

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Frequently asked questions

Will I lose my crypto if Binance doesn't get its EU license?

Not necessarily. Your ownership rights over your crypto assets do not change. The risk lies in losing access to the platform's services, not in losing the assets themselves.

Should I withdraw all my crypto from Binance now?

That is an individual decision depending on your risk tolerance and how this matter develops further. In any case, we recommend following official communication channels and not waiting until the last moment if the license is indeed rejected.

Can my bank refuse a transfer from Binance?

That is possible. Banks are increasingly taking into account whether a platform holds a valid MiCA license. A missing license can lead to additional questions, delays, or in the worst case, a refusal.

Has this news already been officially confirmed?

No. The Reuters report is based on sources familiar with the matter. Neither the Greek regulator (HCMC) nor the European regulator ESMA has publicly confirmed this. Binance disputes the reporting and announced an update before June 30, 2026.

What is the difference with the earlier USDT issue?

The USDT matter concerned whether a specific stablecoin token could still be offered by licensed platforms, because the issuer (Tether) does not hold the required MiCA recognition. The Binance matter concerns whether the platform itself, as a whole, may remain active within the EU. The impact of a potential rejection of Binance is therefore in principle greater, since it affects all holdings and activities on the platform, not just one token.

About Aeacus Lawyers

Aeacus Lawyers is the only crypto-native law firm in Belgium fully focused on the tax and legal aspects of cryptocurrency. We assist individuals and businesses with all questions regarding crypto taxation, compliance, banking issues, and tax audits.

This article is based on Reuters reporting from June 16, 2026 and additional publicly available sources. At the time of publication, there is no official confirmation from the Greek regulator or ESMA. This article is for informational purposes only and does not constitute legal advice.

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