The crypto exchange faces a one-week deadline to secure a license or risk winding down operations for millions of EU users.
Binance will seek alternative regulatory approval in the European Union after its application in Greece was rejected under the bloc’s new licensing rules. The company has one week to obtain a license before its current EU permissions expire, potentially disrupting services for millions of users.
Regulators in Greece, Ireland, and Latvia have resisted Binance’s applications, citing concerns over past money-laundering penalties, its corporate structure, and risk management practices. The exchange’s head of Europe and the UK confirmed plans to pursue other pathways to authorization.
The setback highlights broader challenges for crypto platforms navigating stricter EU oversight. Binance remains committed to maintaining its presence in the region despite regulatory hurdles.