Binance'sHeadofEuropeandUK,GillianLynch,toldReutersonJune24thatBinancewillnotexittheEuropeanmarketandisactivelyseekingalternativeauthorizationpathways:"IfnotGreece,Iamlookingforotheralternatives."BinancehasengagedwithregulatorsinGreece,Ireland,andLatvia,allofwhichhavefacedresistance;sourcesindicatedthatthemainreasonsfortheresistanceareBinance'spastmoneylaunderingpenalties,itscomplexinternationalstructure,anditsrisk-takingculture.##Irish,Latvian,andGreekRegulatorsCloselyCoordinateonBinanceApplicationAccordingtoReuterssources,regulatorsinIreland,Latvia,andGreecehavecloselycoordinatedtoensureaconsistentstanceonBinance'sapplication.Citingsources,GreeklocalmediareportedthatagroupofadvisorsattheBankofGreeceinitiallyraisedconcernsandthensoughtadvicefromtheEuropeanCentralBank,whichreiterateditsconsistentpositiononthecryptocurrencymarket.Specificregulatoryconcernsinclude:pastanti-moneylaunderingpenaltyrecords,executivebackgrounds,thecomplexglobalstructure,andtheinfluenceoffounderChangpengZhao—whostatedinaFebruary2026podcastthatheremainsBinance'sultimatebeneficialowner.LynchrespondedthatZhaohas"100%exited"thecompany,Binancehashiredapproximately1,500compliancepersonnel,andtherearenounresolvedissueswiththeapplication.LynchsaidBinancehadcontactedfourtofiveregulatorsbutonlysubmittedaformalapplicationtoGreece;aBinancespokespersonaddedthatthecompanyhashadnocontactwiththeCentralBankofIrelandforyears.##ESMAStatement:UnauthorizedFirmsMustImmediatelyCeaseOperations,MiCATransitionDeadlineJuly1ESMAissuedastatementonJune23,2026,statingthatunauthorizedcryptoassetserviceprovidersmust"immediatelytakemeasurestoceasetheiractivitiesintheEUinanorderlymanner."UnderMiCAregulations,cryptocompaniesmustobtainauthorizationfromatleastoneEUmemberstatebyJuly1toprovideservicestoclientsinall27memberstatesviapassporting.Binancesaysithasover300millionglobalusersbutdeclinedtodisclosethenumberofEUusers;SensorTowerestimatesthatBinance'sapphadover4milliondownloadsintheEUlastyear,withthehighestdownloadsinFrance,Germany,andSpain.##BinancePaid$4.3BillioninUSSettlementin2023,CurrentlyHoldsMainLicenseinUAEIn2023,BinancefounderChangpengZhaopleadedguiltytoviolatingUSanti-moneylaunderinglaws,andBinancepaida$4.3billionsettlement;USauthoritiessaidBinanceviolatedanti-moneylaunderingandsanctionslawsandfailedtoreportover100,000suspicioustransactionslinkedtoUS-designatedterroristorganizations.Afterservingnearlyfourmonthsinprison,ZhaowaspardonedbyUSPresidentDonaldTrumplastyear.Binancehasfacedmultiplesetbacksinregulatoryauthorization:itisnotauthorizedintheUK,wasorderedtoleaveJapanforoperatingwithoutalicense,andcurrentlyholdsitsmainlicenseintheUAE.Binance'sGeneralCounselEleanorHughessaidlastweekthatBinancebelievesitmeetstherelevantMiCArequirements.##FrequentlyAskedQuestions####**WhatisBinance'scurrentEUMiCAauthorizationstrategy?**Binance'sHeadofEuropeandUK,Lynch,saidthecompanywillnotexittheEuropeanmarketandisseekingalternativeauthorizationpathways.ItcontactedfourtofiveregulatorsbutonlysubmittedaformalapplicationtoGreece;afterwithdrawingtheGreekapplication,itisevaluatingoptionsinotherEUmemberstates.UndertheMiCApassportingmechanism,authorizationfromonememberstateallowsservicestoclientsinall27memberstates.####**WhatarethemainregulatoryconcernsaboutBinance?**Reuterssourcesoutlinedthreemaincategoriesofconcerns:pastcompliancerecord(paid$4.3billioninUSsettlementin2023forviolatinganti-moneylaunderingandsanctionslaws);companystructure(Binance'scomplexglobalstructureandexecutivebackgrounds);andthecontinuedinfluenceoffounderChangpengZhao(ZhaostatedinaFebruary2026podcastthatheremainstheultimatebeneficialowner).RegulatorsinthethreejurisdictionshavecloselycoordinatedonBinance'sapplication.####**WhatisBinance'slegalstatusintheEUaftertheMiCAdeadline?**AsofJune24,2026,BinancehasnotobtainedMiCAauthorizationfromanyEUmemberstate.ESMAstatedonJune23thatunauthorizedfirmsmustimmediatelyceaseoperationsintheEUinanorderlymanner,withtheMiCAtransitiondeadlinebeingJuly1;Binanceiscurrentlyactivelyseekinganalternativeauthorizationmemberstate,withLynchsayingnotargetcountryhasbeendeterminedyet.
Disclaimer: The information on this page may come from third-party sources and is for reference only. It does not represent the views or opinions of Gate and does not constitute any financial, investment, or legal advice. Virtual asset trading involves high risk. Please do not rely solely on the information on this page when making decisions. For details, see the
Disclaimer.
