Binance reportedly intends to remain in the European Union and will reapply for an operating permit after its attempt to obtain a license in Greece was unsuccessful.
"Binance is not leaving Europe," Gillian Lynch, head of Europe and the UK, told Reuters in an interview after the crypto platform's attempt to obtain a Greek license for services, including cryptocurrency trading, failed.
The company has one week to obtain a license before its current operating permit in Europe expires, after which it will be forced to cease operations in the EU.
Binance reportedly held talks with regulators in Ireland, Latvia, and Greece, but faced opposition in all three countries.
Officials expressed concerns about the company's previous money laundering fines, its complex international structure, and what they perceived as a culture of excessive risk-taking.