Binance Appoints Gillian Lynch to Lead Europe and UK Operations Amid Regulatory Scrutiny

Binance, the world’s largest cryptocurrency exchange, has appointed Gillian Lynch as its new head of Europe and the United Kingdom, marking a significant move to secure regulatory approval across the region. Lynch brings over two decades of leadership experience in fintech, banking, and digital assets, having previously held senior roles at Gemini, Bank of Ireland, and Leveris. This appointment comes as Binance faces increasing scrutiny in Europe and seeks to align with the European Union’s Markets in Crypto-Assets Regulation (MiCA).

Lynch will oversee Binance’s regional strategy, day-to-day operations, and regulatory engagements across key European and UK markets. The hire underscores Binance’s “long-term commitment to thoughtful regulation, user protection, and sustainable growth in the region,” according to the announcement. This move signals Binance’s intent to navigate the complex regulatory landscape in Europe, where it has faced challenges in recent years. In June 2023, Binance officially canceled its registration with the UK’s Financial Conduct Authority (FCA) and terminated its services in the Netherlands after failing to obtain a virtual asset service provider (VASP) license.

Richard Teng, CEO of Binance, highlighted Lynch’s regulatory and compliance expertise as crucial for guiding the exchange through a critical period for the industry. “We’re confident that under her leadership, Binance will continue to set the standard for responsible innovation in Europe and play a pivotal role in shaping the future of finance for the next billion users,” Teng stated. Lynch, in her announcement, expressed enthusiasm about building on the company’s momentum across Europe and the UK, collaborating closely with regulators, policymakers, and the community.

New global regulatory standards like MiCA are enabling the crypto industry to enter a new era of global legitimacy, according to Lynch. MiCA went into full effect for crypto-asset service providers on Dec. 30, 2024, with an 18-month transitional period that ends on July 1, 2026. This allows crypto service providers who operate in accordance with national applicable laws to continue operating until the deadline, or until they are granted or refused a MiCA authorization. Binance has committed to ongoing compliance with the requirements of MiCA but has not disclosed details of its strategy. The spokesperson also confirmed that there are “no changes to Binance’s board structure.”

This appointment comes over four years after the former head of Binance UK, Jonathan Farnell, stepped down from his role at the exchange in May 2021. The move to appoint Lynch as the new head of Europe and the UK is a strategic decision by Binance to strengthen its regulatory compliance and operational efficiency in the region. With Lynch’s extensive experience and expertise, Binance aims to rebuild its presence in Europe and the UK, ensuring that it meets all regulatory requirements and continues to innovate responsibly.