rewrite this content using a minimum of 1000 words and keep HTML tags
Binance is searching for alternative ways to remain in the
European Union after its attempt to secure a licence in Greece failed, putting
its regional operations at risk ahead of a key regulatory deadline.
The crypto exchange must obtain approval under the EU’s
Markets in Crypto-Assets (MiCA) framework by the end of June to continue
serving customers across the bloc. Without a licence from one member state,
firms must stop operating.
According to Reuters, Gillian Lynch, Binance’s head of Europe and the UK, said the
company remains committed to the region despite the setback. “Binance is not leaving Europe,” Lynch said.
“We may just have a different pathway to being authorized. If it is not
Greece, I’m looking at other alternatives.”
EXCLUSIVE: Binance vows to stay in Europe despite licence setback https://t.co/vShsRewaTb https://t.co/vShsRewaTb
— Reuters Business (@ReutersBiz) June 24, 2026
The company has held discussions with regulators in Ireland,
Latvia, and Greece. However, sources said authorities in those countries have
resisted approving the application. Binance submitted only one formal
application, in Greece.
Keep reading: Binance Says It “Remains Fully Committed to Securing MiCA License” as EU Exit Risk Looms
The European Securities and Markets Authority has warned
that firms without authorization must wind down operations in an orderly
manner, increasing pressure on Binance as the deadline approaches.
Regulatory Scrutiny Remains High
Regulators have raised concerns about Binance’s compliance
record, corporate structure, and risk management approach. Officials also
examined the background of senior executives and past anti-money laundering
controls.
In 2023, founder Changpeng Zhao pleaded guilty to breaching
U.S. anti-money laundering laws as part of a $4.3 billion settlement.
Authorities said Binance failed to report thousands of suspicious transactions. One source cited Zhao’s continued influence as a concern.
Lynch said he is “100% removed” from the company.
She added that Binance has strengthened its compliance
systems and now employs about 1,500 compliance staff. The company maintains
that it meets MiCA requirements and expected approval in Greece.
Regulators across member states have coordinated their
response to ensure consistent enforcement under MiCA. Authorities have warned
that weak oversight could expose markets to risks such as illicit finance and
investor harm.
MiCA Deadline Approaches Without License Approval
Last week, Binance said it remains fully committed to securing a MiCA licence as the risk of losing access to the European Union grows ahead of the June deadline. The exchange faces a possible rejection of its application in Greece, which would prevent it from offering services across the bloc from July.
Under MiCA rules, crypto firms must obtain approval from a national regulator to “passport” services across all 27 EU countries, or stop operations. Binance said it has worked with regulators for about 18 months and believes it meets the requirements. The company added that it engaged with Greece’s regulator in good faith and expects to support an orderly process if approval does not come through.
It also stated that Europe remains central to its long-term plans and that it will provide an update before the June 30 deadline, while focusing on minimizing disruption for users.
Binance is searching for alternative ways to remain in the
European Union after its attempt to secure a licence in Greece failed, putting
its regional operations at risk ahead of a key regulatory deadline.
The crypto exchange must obtain approval under the EU’s
Markets in Crypto-Assets (MiCA) framework by the end of June to continue
serving customers across the bloc. Without a licence from one member state,
firms must stop operating.
According to Reuters, Gillian Lynch, Binance’s head of Europe and the UK, said the
company remains committed to the region despite the setback. “Binance is not leaving Europe,” Lynch said.
“We may just have a different pathway to being authorized. If it is not
Greece, I’m looking at other alternatives.”
EXCLUSIVE: Binance vows to stay in Europe despite licence setback https://t.co/vShsRewaTb https://t.co/vShsRewaTb
— Reuters Business (@ReutersBiz) June 24, 2026
The company has held discussions with regulators in Ireland,
Latvia, and Greece. However, sources said authorities in those countries have
resisted approving the application. Binance submitted only one formal
application, in Greece.
Keep reading: Binance Says It “Remains Fully Committed to Securing MiCA License” as EU Exit Risk Looms
The European Securities and Markets Authority has warned
that firms without authorization must wind down operations in an orderly
manner, increasing pressure on Binance as the deadline approaches.
Regulatory Scrutiny Remains High
Regulators have raised concerns about Binance’s compliance
record, corporate structure, and risk management approach. Officials also
examined the background of senior executives and past anti-money laundering
controls.
In 2023, founder Changpeng Zhao pleaded guilty to breaching
U.S. anti-money laundering laws as part of a $4.3 billion settlement.
Authorities said Binance failed to report thousands of suspicious transactions. One source cited Zhao’s continued influence as a concern.
Lynch said he is “100% removed” from the company.
She added that Binance has strengthened its compliance
systems and now employs about 1,500 compliance staff. The company maintains
that it meets MiCA requirements and expected approval in Greece.
Regulators across member states have coordinated their
response to ensure consistent enforcement under MiCA. Authorities have warned
that weak oversight could expose markets to risks such as illicit finance and
investor harm.
MiCA Deadline Approaches Without License Approval
Last week, Binance said it remains fully committed to securing a MiCA licence as the risk of losing access to the European Union grows ahead of the June deadline. The exchange faces a possible rejection of its application in Greece, which would prevent it from offering services across the bloc from July.
Under MiCA rules, crypto firms must obtain approval from a national regulator to “passport” services across all 27 EU countries, or stop operations. Binance said it has worked with regulators for about 18 months and believes it meets the requirements. The company added that it engaged with Greece’s regulator in good faith and expects to support an orderly process if approval does not come through.
It also stated that Europe remains central to its long-term plans and that it will provide an update before the June 30 deadline, while focusing on minimizing disruption for users.
and include conclusion section that’s entertaining to read. do not include the title. Add a hyperlink to this website [http://defi-daily.com] and label it “DeFi Daily News” for more trending news articles like this
Source link
