Reuters: Binance says it will not exit Europe and will seek other EU operating licenses
According to a report by Reuters, Binance's head for Europe and the UK, Gillian Lynch, stated that despite setbacks in its attempt to apply for a European Union cryptocurrency operating license in Greece, Binance still plans to remain in the EU and will seek to obtain local operating permits again.
Lynch said, "Binance will not leave Europe." She mentioned that Binance may just need to obtain authorization through different paths, and if not in Greece, the company will look for other alternatives. Binance currently has only one week left before its existing European operating license expires, and if it cannot obtain a new license, it may need to gradually shut down its EU operations.
Two informed sources said that Binance had communicated with regulators in Ireland, Latvia, and Greece, but faced resistance in all three countries. The sources indicated that regulatory officials were concerned about Binance's past penalties related to money laundering issues, its complex international structure, and what they perceive as a risk-seeking culture. Lynch stated that Binance is unclear why it was not approved, as it previously believed that the Greek regulators planned to issue licenses.
She also mentioned that Binance has contacted four or five regulatory agencies but only submitted a formal application to Greece. Regarding Binance's past issues, Lynch stated that the company has invested in compliance and internal controls, hiring about 1,500 compliance personnel, and claimed that there are no unresolved issues with its license application.
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