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PARIS/BERLIN, June 24 (Reuters) — Cryptocurrency exchange Binance has reaffirmed its commitment to the European market and is seeking alternative routes to secure regulatory approval after its bid for a licence in Greece collapsed.

The setback threatens Binance's ability to continue serving millions of European users under the European Union's new crypto regulatory framework.

Binance Seeking New Path to EU Authorisation

Speaking to Reuters, Gillian Lynch, Binance's Head of Europe and the United Kingdom, stressed that the company has no plans to withdraw from the region.

"Binance is not leaving Europe," Lynch said.

"We may just have a different pathway to being authorised. If it is not Greece, I'm looking at other alternatives."

Under the EU's new crypto licensing regime, Binance faces a critical deadline. The company has approximately one week to obtain authorisation before its current permission to operate within Europe expires.

Failure to secure a licence could force Binance to begin winding down its EU operations.

Regulatory Resistance Across Europe

According to two sources familiar with the matter, Binance has held discussions with regulators in Ireland, Latvia, and Greece, but encountered resistance in all three jurisdictions.

Regulators reportedly expressed concerns over:

• Binance's previous anti-money laundering violations and penalties.
• The company's complex global corporate structure.
• Perceived weaknesses in governance and risk management.
• Concerns regarding what some officials described as a risk-taking corporate culture.

Regulatory authorities in the three countries either declined to comment or did not respond to Reuters' requests.