Binance, the world’s largest cryptocurrency exchange, has appointed Gillian Lynch as the new leader of Europe and the United Kingdom, which has signed a modified push to secure the regulation of the entire regulation.
Lynch brings more than 20 years of finisch, banking and digital assets experience. He had previously held senior duties in Gemini, Bank of Ireland and Leveris.
The appointment, announced Friday, arrived as Binance’s face rises investigating Europe and aims to align with the European Union’s Crypto-Assets regulation markets (MICA). Lynch will guard the approach to the Binance region, daily operations and regulatory adventures in major markets in Europe and the UK.
The hire indicates “Binance’s long -term commitment to thoughtful regulations, user protection, and sustainable growth in the region,” the announcement said.
The new appointment has come for four years after former Binance UK leader Jonathan Farnell, dropped from his exchange role in May 2021.
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Richard Teng, CEO of Binance, said the regulation and compliance with Lynch would help with the exchange guide through a critical time for the industry:
“We are confident that under his leadership, Binance will continue to set the standard for responsible change in Europe and play an important role in shaping the financial future for the next billion users.”
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Crypto has stepped onto the time of legitimacy thanks to Mica
New global regulatory standards such as MICA enable the crypto industry to enter a new era of global legitimacy, according to Lynch.
“I look forward to developing the company’s momentum across Europe and the UK, working closely with regulators, policies, and our community,” Lynch said in the announcement.
When asked about the updated approach to compliance with the company’s MICA, a Binance spokesman Cointelegraph said, “We are committed to continuing to comply with MICA’s requirements, but we will not reveal the details of our approach.”
The spokesman also said “there are no changes to the Binance board structure.”
In June 2023, Binance officially canceled Its registration with the UK’s Financial Conduct Authority (FCA). Later that month, Binance ended its services in the Netherlands, exit The Dutch Market After failure to obtain a virtual asset service provider (VASP) license.
MICA went to the full effect for Crypto-Asset service providers on December 30, 2024, with an 18-month transition period ending on July 1, 2026. It allows crypto service providers running in accordance with national applicable laws to continue operating until the end time, or until they are given a permission to Mica.
Cointelegraph contacted Gemini for commenting but did not receive a response through publication.
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