Binance coin (BNB) is trading lower as investors reacted to reports that Binance may lose permission to offer crypto services across the European Union if its MiCA licence application in Greece is rejected.
BNB fell 3.03% over 24 hours to $605.62, while its market capitalization declined by the same percentage to $81.62 billion. Trading volume rose 4.98% to $1.42 billion, showing higher market activity during the price decline.
The token had briefly traded near $616.81 earlier on June 16, 2026, before weakening below the $614.60 area and moving toward $604.20. The decline came as Reuters reported that Binance’s application with Greece’s Hellenic Capital Market Commission is set to be rejected, citing two people familiar with the matter.
Under the European Union’s Markets in Crypto-Assets regulation, crypto companies must obtain authorisation by the end of June to continue offering services across the bloc. Without a MiCA licence, Binance would not qualify to serve EU clients from the start of July.
Binance submitted its application through Greece’s market regulator after choosing the country as its European regulatory base. The exchange had previously considered other jurisdictions, including Malta, before moving ahead with the Greek application process.
A representative for the Hellenic Capital Market Commission declined to comment on Binance’s application, citing confidentiality rules. Binance said it has worked constructively with regulators for about 18 months and believes it has met the relevant MiCA requirements.
The exchange said its understanding is that the HCMC completed its review, considered the application compliant with MiCA rules, and informed the European Securities and Markets Authority that it intended to move the licence toward authorisation at an upcoming board meeting.
Binance said it has received no formal indication that its application would be rejected. A company spokesperson said the exchange believes the application was reviewed at both the Greek regulator level and the ESMA level.
The report creates uncertainty for Binance’s European operations because MiCA introduces a unified regulatory framework that allows licensed firms to operate across the EU. A rejection in Greece would raise questions about Binance’s ability to maintain uninterrupted access to clients in the region.
Binance co-CEO Richard Teng said earlier this year that Greece offered a favourable combination of labour force depth and security profile for the exchange’s European regulatory base. At the time, he said the decision on whether Binance receives approval would rest with EU authorities.
The exchange remains the world’s largest cryptocurrency trading platform by volume, making the outcome of its MiCA application closely watched across the digital asset industry. A potential licence rejection would arrive at a time when large crypto firms are adjusting their European structures to comply with the bloc’s new rules.
BNB’s latest price action shows pressure near the lower end of its intraday range, although the broader technical picture remains mixed. The token recently swept the $560 to $570 sell-side liquidity zone before recovering toward the $600 area.
BNB was later trading near $613.89, down about 0.58% on the session, after reclaiming part of the lower range. The sharp downside wick and recovery suggest sellers briefly pushed the price below prior support but did not maintain control.
Source: X
The first support area is near $590 to $600, followed by the swept low around $560 to $570. A loss of those levels would weaken the recovery attempt and could bring the lower liquidity zone back into focus.
Resistance sits around $640 to $660, where BNB previously consolidated before the breakdown. A clean move above that range could open the path toward the $740 to $750 buy-side liquidity area, which remains a visible upside target on the chart.
