That depends, there are too many variables for an outright yes/no answer.
- Private or Commercial
- EU Citizen/resident or not
For instance if you are a EU passport holder and you fly N-reg in Commercial operations for a US based company you don’t need an EU-license.
If you are a EU passport holder and resident and you want to fly your privately owned N-reg in private operations you do need an EU-license.
That “loophole” was closed 12-15(?) years ago.
*So…..we’ll need a little more information about what exactly you are asking.