Binance, the world’s largest cryptocurrency exchange, has appointed Gillian Lynch as its new head of Europe and the United Kingdom, signaling a renewed push to secure regulatory approval across the region.
Lynch brings more than 20 years of leadership experience in fintech, banking and digital assets. She previously held senior roles at Gemini, Bank of Ireland and Leveris.
The appointment, announced Friday, 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 signals Binance’s “long-term commitment to thoughtful regulation, user protection, and sustainable growth in the region,” the announcement states.
The new 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.
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Richard Teng, CEO of Binance, said Lynch’s regulatory and compliance expertise will help guide 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.”
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Crypto stepping into era of legitimacy thanks to MiCA
New global regulatory standards like MiCA are enabling the crypto industry to enter a new era of global legitimacy, according to Lynch.
“I’m looking forward to building on the company’s momentum across Europe and the UK, collaborating closely with regulators, policymakers, and our community,” said Lynch in the announcement.
When asked about the company’s updated MiCA compliance strategy, a Binance spokesperson told Cointelegraph, “We’re committed to ongoing compliance with the requirements of MiCA, but we won’t be disclosing details of our strategy.”
The spokesperson also said there are “no changes to Binance’s board structure.”
In June 2023, Binance officially canceled its registration with the UK’s Financial Conduct Authority (FCA). Later that month, Binance terminated its services in the Netherlands, exiting the Dutch market after failing to obtain a virtual asset service provider (VASP) license.
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 enables 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.
Cointelegraph contacted Gemini for comment but had not received a response by publication.
Under Lynch’s leadership as former Europe CEO, Gemini became the first company to be registered as a VASP by the Central Bank of Ireland, the firm announced in July 2022.
It is unclear whether Lynch is subject to a non-compete agreement with Gemini. Under a non-compete agreement, an employee agrees not to directly compete with the firm for a pre-determined period after the employment period ends.
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