Binance Faces Deadline as Greek License Bid Collapses Amid Regulator Resistance

Binance, the world's largest crypto exchange, is facing a critical deadline after its bid to secure a regulatory license in Greece collapsed. The company had submitted an application for a MiCA-compliant license in Greece but was met with resistance from regulators. According to Binance's Head of Europe and the UK, Gillian Lynch, the company is not withdrawing from the region and is actively exploring alternative authorization pathways.

Lynch stated that Binance had contacted four or five regulators in total but submitted only one formal application, to Greece. The exchange has roughly one week to obtain a new license before its current EU operating permission expires, which would affect millions of users across the bloc if no authorization is granted in time.

Binance has previously been penalized for money laundering and has a complex international structure, which officials have cited as concerns during review. Lynch said that Binance has fully addressed these concerns and employs approximately 1,500 compliance staff, investing heavily in internal controls.