{"id":2845,"date":"2026-06-24T17:11:21","date_gmt":"2026-06-24T17:11:21","guid":{"rendered":"https:\/\/reliablemovingcrews.com\/?p=2845"},"modified":"2026-06-24T17:11:21","modified_gmt":"2026-06-24T17:11:21","slug":"binance-vows-to-stay-in-europe-despite-licence-setback","status":"publish","type":"post","link":"https:\/\/reliablemovingcrews.com\/?p=2845","title":{"rendered":"Binance vows to stay in Europe despite licence setback"},"content":{"rendered":"<div><div><div><ul><li>Summary<\/li><\/ul><\/div><div><\/div><\/div><div>PARIS\/BERLIN, June 24 (Reuters) &#8211; Crypto platform Binance intends to stay in the European Union and will make a fresh push for permission to operate there, a senior executive \u200btold Reuters, after its application under a new licence regime failed, threatening access for millions of users.<\/div><div>&#8220;Binance is not leaving Europe,&#8221; Gillian Lynch, head of Europe \u200cand the United Kingdom, told Reuters, after its bid to secure a licence in Greece to offer services such as crypto trading in the EU unravelled.<\/div><div>&#8220;We may just have a different pathway to being authorised,&#8221; she said. &#8220;If it is not Greece, I&#8217;m looking at other alternatives.&#8221;<\/div><div>The comments put Binance on a potential collision course with European regulators. The company has one week to secure a licence before its current permission to operate in Europe expires, which \u200bwould require it to wind down EU operations.<\/div><div>Two people with knowledge of the process told Reuters that Binance has held talks with regulators in Ireland, Latvia and Greece but \u200bfaced resistance in all three countries.<\/div><div>They said officials were concerned about the company&#8217;s past penalties for money laundering, its complex international structure and what \u2060they viewed as a risk-taking culture.<\/div><div>Regulators in the three countries declined to comment, or did not respond.<\/div><div>The approaches to several regulators highlight how one of the world&#8217;s largest crypto companies has \u200bstruggled to overcome regulatory resistance to securing an EU licence.<\/div><div>Lynch said Binance did not know why it had been refused approval and had previously believed the Greek regulator planned to grant a licence.<\/div><div>She \u200bsaid Binance had contacted four or five regulators but only made one application, to Greece. A spokesperson for Binance added that the company had not engaged with Ireland&#8217;s central bank for a number of years.<\/div><div>Asked about Binance&#8217;s past problems, Lynch said Binance had invested in compliance and internal controls, employed about 1,500 compliance staff, and had no outstanding issues related to its application.<\/div><h2>REGULATORY CONCERNS<\/h2><div>Binance&#8217;s failure to secure an EU licence before the June 30 \u200bdeadline raises uncertainty over its future in the bloc. Whether authorities can now enforce what would amount to a ban will test the strength of the EU&#8217;s new crypto rules.<\/div><div>On Tuesday, \u200bthe European Securities and Markets Authority said crypto firms without a licence must &#8220;take immediate steps to wind down their EU activities in an orderly manner&#8221;.<\/div><div>The EU&#8217;s landmark crypto regime, known as MiCA, came into force last \u200cyear, giving \u2060firms until end-June to obtain authorisation in one member state to serve customers across the 27-country bloc.<\/div><div>Binance says it has more than 300 million customers globally but declined to say how many are in the EU. The app was downloaded more than 4 million times in the bloc last year, with most downloads in France, Germany and Spain, according to estimates from Sensor Tower.<\/div><div>Regulators assessing Binance&#8217;s bid were also concerned about the background of senior executives and the exchange&#8217;s record on money laundering controls, which they viewed as inadequate, the sources said, speaking on the condition of anonymity.<\/div><div>One \u200bsource pointed to the influence of founder Changpeng \u200bZhao, who said in a February podcast \u2060that he remained the ultimate beneficial owner, as well as Binance&#8217;s complex global structure.<\/div><div>Lynch told Reuters Zhao is &#8220;100% removed&#8221; from the company.<\/div><div>Binance has previously struggled to win regulatory approval elsewhere. It is unauthorised in the UK and was told to leave Japan after operating there without a licence. Its \u200bmain licence is now in the United Arab Emirates.<\/div><div>In 2023, Zhao \u2014 known as CZ \u2014 pleaded guilty to breaching U.S. anti-money laundering laws as \u200bpart of a $4.3 billion \u2060settlement following a years-long investigation.<\/div><div>He served nearly four months in prison before being pardoned last year by U.S. President Donald Trump.<\/div><div>U.S. authorities said Binance had broken anti-money laundering and sanctions laws and failed to report more than 100,000 suspicious transactions linked to groups designated by Washington as terrorist organisations.<\/div><h2>REGULATORS COORDINATE<\/h2><div>Under MiCA, crypto firms can apply through a single national regulator and use that as a &#8220;passport&#8221; to sell services across the \u2060bloc.<\/div><div>Regulators in \u200bLatvia, Ireland and Greece coordinated closely to ensure a consistent approach to Binance&#8217;s application, one of the sources said.<\/div><div>Some \u200bregulators have raised concern that uneven enforcement could undermine efforts to oversee a multibillion-dollar industry they warn could destabilise markets, facilitate illicit finance and harm investors if not properly supervised.<\/div><div>Binance believes it met MiCA&#8217;s requirements, its general counsel Eleanor Hughes said \u200blast week. While national regulators grant licences, applications can be discussed through ESMA.<\/div><div><address><div><div><noscript>\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"120\" height=\"120\" alt=\"Elizabeth Howcroft\" class=\"wp-image-1152\" src=\"https:\/\/reliablemovingcrews.com\/wp-content\/uploads\/2026\/06\/ee4e3cd3d93e78e4c69c20601755b5f5.avif\"\/><\/figure>\n<\/noscript><\/div><div>Elizabeth Howcroft<\/div><\/div><div><ul><li><span><div><svg><title>Email<\/title><\/svg><\/div><\/span><\/li><li><span><div><svg><title>X<\/title><\/svg><\/div><\/span><\/li><li><span><div><svg><title>Linkedin<\/title><\/svg><\/div><\/span><\/li><\/ul><\/div><\/address><address><div><div><noscript>\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"120\" height=\"120\" alt=\"John O'Donnell\" class=\"wp-image-2121\" src=\"https:\/\/reliablemovingcrews.com\/wp-content\/uploads\/2026\/06\/ddd1496930701845f70de37f7923c3c4.avif\"\/><\/figure>\n<\/noscript><\/div><div>John O&#8217;Donnell<\/div><\/div><div><ul><li><span><div><svg><title>Email<\/title><\/svg><\/div><\/span><\/li><li><span><div><svg><title>X<\/title><\/svg><\/div><\/span><\/li><li><span><div><svg><title>Linkedin<\/title><\/svg><\/div><\/span><\/li><\/ul><\/div><\/address><\/div><\/div><p>Read more <a href=\"https:\/\/reliablemovingcrews.com\/?p=2843\">US SEC probes popular type of private equity fund as it steps up industry scrutiny, sources say<\/a><\/p><p>Read more <a href=\"https:\/\/reliablemovingcrews.com\/?p=2841\">Wall St rebounds with broad gains as oil slides sharply<\/a><\/p><p>Read more <a href=\"https:\/\/reliablemovingcrews.com\/?p=2840\">Trump set to mark nation\u2019s 250th birthday with campaign-style rally<\/a><\/p>","protected":false},"excerpt":{"rendered":"<p>Crypto platform Binance intends to stay in the European Union and will make a fresh push for permission to operate there, a senior executive \u200btold Reuters, after its application under a new licence regime failed, threatening access for millions of users.<\/p>\n","protected":false},"author":1,"featured_media":2844,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[78],"class_list":["post-2845","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-regulatory-oversight"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.6 - 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