Binance Avoids EU Ban with Unconventional Workarounds

The world's largest crypto exchange, Binance Holdings Ltd., narrowly escaped a ban from operating in the European Union.

In June, it was announced that Binance had failed to obtain a key regulatory license, which would have forced the company to leave the EU. However, due to various side doors and workarounds, the firm has continued to operate in the 27-member-state bloc.

According to people familiar with the matter, this unexpected outcome is not entirely surprising, given Binance's history of struggling with regulatory issues in Europe.