Binance on Wednesday reiterated it’s commitment to operating in Europe despite facing regulatory setbacks that have complicated its efforts to secure licences under the European Union’s new crypto framework.
The company said it would continue its engagement with regulators across the region after encountering obstacles in obtaining authorisation under the Markets in Crypto-Assets (MiCA) regime, which aims to establish a unified regulatory framework for digital assets across the bloc.
Binance executives said Europe remains a strategic market for its operations. It added that the exchange intends to comply with evolving regulatory requirements as expands services where permitted.
The exchange has faced increased scrutiny from regulators worldwide in recent years over compliance, anti-money laundering controls and consumer protection standards, prompting it to adjust operations in several jurisdictions.
Observers say obtaining MiCA licences will become increasingly important for crypto firms who want access to the European market, as regulators tighten oversight of digital asset platforms.
The firm said it would continue working with regulators and supervisory authorities to secure the approvals necessary to serve customers across Europe under the new framework.