Binance MiCA license push will continue in another EU country after its Greece application unraveled, a senior executive told Reuters.
Crypto exchange Binance is looking for a new way to stay in Europe after its Greek license bid failed, leaving the company with one week before its current EU permission expires.
Binance had applied in Greece for authorization under the European Union’s new crypto licensing regime, but that route has now fallen apart, Reuters has learned.
Gillian Lynch, Binance’s head of Europe and the United Kingdom, told Reuters that the exchange “is not leaving Europe,” adding that the company “may just have a different pathway to being authorised.” She noted further that “if it is not Greece, I’m looking at other alternatives.”
Read also: Binance MiCA License Delay Raises Risk of Losing EU Market
Regulators Push Back
Reuters, citing two people familiar with the process, reported that Binance held talks with regulators in Ireland, Latvia and Greece but faced resistance in all three countries, with officials reportedly concerned about its past money-laundering penalties, complex global structure and risk-taking culture.
Lynch said that Binance didn’t understand the reasons behind its unsuccessful application in Greece and thought that the regulator would award the license. She said that Binance reached out to four or five regulators but submitted only one application, to Greece.
Now, the exchange tries to prove to the regulators that it has changed, with Lynch saying Binance had invested in compliance and internal controls.
The deadline is the core problem since Binance has one week left before its current EU permission expires, and without a MiCA license or another approved route, the exchange would be required to wind down its EU operations.
Read more: MiCA Shock on July 1: Over 80% of Europe’s Crypto Firms Still Lack a License — What Happens Next?
