Binance says it will not exit Europe, and will seek additional EU operating licenses.

According to Reuters, Gillian Lynch, head of Binance Europe and the UK, stated that despite a setback in its application for a European Union crypto operating license in Greece, Binance still plans to remain in the EU and will reapply for local operating authorization. “Binance will not leave Europe,” Lynch said. She noted that Binance may simply need to secure authorization through a different path, and if not Greece, the company will explore other alternatives. Binance’s current European operating license is set to expire in just one week, and failure to obtain a new license could lead to a phased shutdown of its EU operations. Two sources familiar with the matter told Reuters that Binance has held discussions with regulators in Ireland, Latvia, and Greece, but faced resistance in all three jurisdictions. The sources added that regulatory officials have raised concerns over Binance’s past penalties related to money laundering, its complex international structure, and what they perceive as its risk-tolerant corporate culture. Lynch said Binance does not understand why its application was rejected, noting that the company had previously expected Greek regulators to approve the license. She also stated that Binance has reached out to four or five regulatory bodies, but only submitted a formal application to Greece. Regarding Binance’s past issues, Lynch said the firm has invested in compliance and internal controls, employing around 1,500 compliance staff, and emphasized that there are no unresolved issues with its license application.