Official guidance · EDPB Guidelines 05/2020, para. 39
Cookie banner and cookie wall
In plain English
A cookie wall blocks access unless the user accepts cookies; the EDPB says such consent is not freely given. Most authorities see a consent banner with no reject option on any layer as an infringement.
The official text
In order for consent to be freely given, access to services and functionalities must not be made conditional on the consent of a user to the storing of information, or gaining of access to information already stored, in the terminal equipment of a user (so called cookie walls)
a vast majority of authorities considered that the absence of refuse/reject/not consent options on any layer with a consent button of the cookie consent banner is not in line with the requirements for a valid consent and thus constitutes an infringement
Related
The official text is quoted word for word from the English version of the source named under it; only the version published in the Official Journal of the EU is legally binding. The plain-English line is Fino’s own summary, not legal advice.