The largest crypto-mining company, Binance, intends to maintain its presence in the European Union and is preparing to reapply for a license. This was stated by the head of the Europe and UK Branch, Gillian Lynch, in an interview with Reuters, stressing that the company does not plan to leave the region. This statement was made against the backdrop of the platform’s failed attempt to obtain permission from the Greek regulator. The situation is compounded by tight deadlines: the exchange has only one week left before its current EU work permit expires, after which its operations in the region will be forced to halt.

Finding the right jurisdiction was not easy for Binance. The platform negotiated with the supervisory authorities of Greece, Ireland and Latvia, but faced resistance in all three countries. European regulators have expressed serious concerns about the company’s past. In addition, regulators are wary of the exchange’s complex international structure and corporate culture, which they view as prone to excessive risk-taking.