Binance plans to stay in the EU and reapply for a license

The world's largest cryptocurrency exchange Binance intends to remain in the European Union market and will submit a new application for a license to operate in the region. This was reported by Reuters, citing sources.

The crypto platform confirmed its intention to continue operating in the EU after its application under the new licensing regime was rejected, which put access to services for millions of users at risk.

The head of Europe and the UK division, Gillian Lynch, told Reuters that the company does not plan to leave the European market.

"Binance is not leaving Europe," she said, adding that after the license refusal in Greece, the company is considering alternative options for obtaining permission. According to her, other jurisdictions are possible if the Greek option does not work out.

At the same time, these statements indicate a potential escalation of relations with European regulators. According to Reuters' sources, Binance has about a week to obtain a license before the current permit to operate in the EU expires. If the requirements are not met, the company may be forced to wind down operations in the bloc.

Sources also reported that Binance held talks with regulators in Ireland, Latvia, and Greece but faced resistance in all three countries. Regulators are particularly concerned about the company's previous fines for violations of anti-money laundering rules, the complex international business structure, and increased risks associated with the exchange's activities.

Regulators in these countries declined to comment or did not respond to journalists' inquiries.

Binance stated that it does not have a clear understanding of the reasons for the refusal in Greece, although it previously expected a positive decision from the local regulator. Lynch also noted that the company approached several regulators but officially submitted only one application — in Greece.

A representative of the exchange added that Binance has not interacted with the Central Bank of Ireland for several years.

The company emphasizes that it has strengthened internal compliance procedures, increased the number of specialized staff to about 1,500 people, and has no unresolved regulatory oversight issues.

However, the absence of an EU license by the June 30 deadline creates uncertainty about Binance's future operations in the bloc. The European Securities and Markets Authority previously stated that crypto companies without permission must take measures for an orderly wind-down of activities in the EU.

The MiCA regulatory regime, which came into effect last year, requires crypto companies to obtain a permit in one of the EU countries to operate across the entire 27-member bloc market.

Binance claims to have over 300 million users worldwide but does not disclose the number of clients in the EU. According to Sensor Tower estimates, in 2025, the exchange's app was downloaded over 4 million times within the EU, mostly in France, Germany, and Spain.

Regulators have also pointed to the company's top management's past and the effectiveness of anti-money laundering control systems, which they consider may be insufficient. Particular attention is given to the influence of founder Changpeng Zhao, who previously stated he retained the status of ultimate beneficiary despite a change in his role in the company.

Binance denies this, stating that Zhao is "100% relieved" of management duties.

The exchange has previously faced regulatory issues in other countries: it did not obtain permission in the UK, left the Japanese market after operating without a license, and currently holds a main permit in the United Arab Emirates.

In 2023, Changpeng Zhao pleaded guilty to violating U.S. anti-money laundering laws as part of a $4.3 billion settlement. He later spent several months in prison and was pardoned by U.S. President Donald Trump.

U.S. authorities previously accused Binance of sanctions and anti-money laundering violations, as well as failing to provide information on over 100,000 suspicious transactions linked to groups considered terrorist organizations in the U.S.

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