{"id":9217,"date":"2026-07-03T01:54:31","date_gmt":"2026-07-02T22:54:31","guid":{"rendered":"https:\/\/handoli.com\/index.php\/2026\/07\/03\/binance-hit-with-200m-uk-lawsuit-one-day-before-eu-exit\/"},"modified":"2026-07-03T01:54:31","modified_gmt":"2026-07-02T22:54:31","slug":"binance-hit-with-200m-uk-lawsuit-one-day-before-eu-exit","status":"publish","type":"post","link":"https:\/\/handoli.com\/index.php\/2026\/07\/03\/binance-hit-with-200m-uk-lawsuit-one-day-before-eu-exit\/","title":{"rendered":"Binance hit with $200M UK lawsuit one day before EU exit"},"content":{"rendered":"
<\/div>\n

Binance has been hit with a \u00a3150 million ($200 million) lawsuit, accusing it of offering illegal derivative products, just one day before the exchange is due to exit EU markets.<\/p>\n

Almost 1,700 British investors<\/strong> joined together to file the lawsuit in London\u2019s High Court yesterday, claiming it offered risky derivative products without permission from the UK\u2019s financial regulator, the FCA.\u00a0<\/p>\n

Investors claim to have lost tens of thousands, and in some cases millions, on derivatives offered between 2019 and 2020 while the exchange was under the leadership of its former CEO and founder, Changpeng Zhao.\u00a0\u00a0<\/p>\n

A KP Law partner told<\/a> the Financial Times<\/em>, \u201cOur clients are ordinary people, many of whom committed significant savings and who have suffered real financial harm. We are determined to hold Binance and its founder, Changpeng Zhao, to account.\u201d<\/p>\n

The exchange said it will \u201cdefend against these claims through the appropriate legal process in due course. Binance remains committed to its obligations to users and to operating in accordance with applicable law.\u201d<\/p>\n

Defendants in the lawsuit include Zhao, Binance\u2019s Cayman Islands entity, the UAE-registered Nest Exchange, and unknown persons operating the \u200bBinance Trading \u2060Platform.<\/p>\n

Time\u2019s up for Binance in the EU<\/h2>\n

The lawsuit was filed just one day before Binance has to remove its operations from EU territories today, due to its failure to secure a license under the bloc\u2019s Markets in Crypto-Assets Regulation (MiCA).\u00a0<\/p>\n

Binance had originally been earmarked to secure a license from Greece and believed<\/a> it was compliant with MiCA regulations. It then withdrew<\/a> its application on June 26 and claimed it would pursue a different EU member state<\/strong>.\u00a0<\/p>\n

According<\/a> to The Block\u2019s<\/em> Gareth Jenkinson, European Central Bank President, Christine Lagarde, \u201cdirectly ordered Greece to reject Binance\u2019s MiCA license application.\u201d<\/p>\n

Jenkinson\u2019s undisclosed source claimed Binance had \u201cessentially been given the green light by Greece\u2019s regulator, before the ECB stepped in.\u201d<\/p>\n

\n
\n
\n

I am reliably informed that ECB president Christine Lagarde directly ordered Greece to reject Binance\u2019s MiCA license application.<\/p>\n

My source said Binance had essentially been given the green light by Greece\u2019s regulator, before the ECB stepped in.<\/p>\n

Not good news for crypto if the\u2026 https:\/\/t.co\/sLpBaoxx0L<\/a><\/p>\n

\u2014 Gareth Jenkinson (@gazza_jenks) June 17, 2026<\/a><\/p><\/blockquote>\n<\/div>\n<\/figure>\n

Read more: Binance probed by DoJ, files lawsuit against WSJ<\/a><\/em><\/p>\n

Zhao claimed<\/a> in an interview with Jenkinson that two EU countries were vying for Binance\u2019s application until political forces intervened.\u00a0<\/p>\n

Despite the setback, Binance Head of Europe and the UK, Gillian Lynch, boldly claimed<\/a>, \u201cBinance is not leaving Europe.\u201d<\/p>\n

Binance CEO Richard Teng also said<\/a> the company is committed to securing a license \u201cin the coming months.\u201d<\/p>\n

However, it appears Binance has failed to find another welcoming EU country in time for the July 1 MiCA deadline, which it\u2019s had six years<\/a> to prepare for.\u00a0<\/p>\n

The exchange has stressed<\/a> that any impacted users will still have access to withdraw their funds<\/strong>.\u00a0<\/p>\n

Teng added<\/a> today, \u201cPlease know that we are working hard behind the scenes, including in close engagement with regulators, to navigate this transition responsibly and to continue serving our users in the best way possible.\u201d<\/p>\n

Got a tip? Send us an email securely via\u00a0<\/em>Protos Leaks<\/em><\/a>. For more informed news and investigations, follow us on\u00a0X<\/a>,\u00a0<\/em>Bluesky<\/em><\/a>, and\u00a0<\/em>Google News<\/em><\/a>, or subscribe to our\u00a0<\/em>YouTube<\/em><\/a>\u00a0channel.<\/em><\/p>\n

The post Binance hit with $200M UK lawsuit one day before EU exit<\/a> appeared first on Protos<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"

Binance has been hit with a \u00a3150 million ($200 million) lawsuit, accusing it of offering illegal derivative products, just one day before the exchange is due to exit EU markets. Almost 1,700 British investors joined together to file the lawsuit in London\u2019s High Court yesterday, claiming it offered risky derivative products without permission from the […]<\/p>\n","protected":false},"author":1,"featured_media":9218,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"rop_custom_images_group":[],"rop_custom_messages_group":[],"rop_publish_now":"initial","rop_publish_now_accounts":[],"rop_publish_now_history":[],"rop_publish_now_status":"pending","footnotes":""},"categories":[147],"tags":[],"class_list":["post-9217","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-invest"],"_links":{"self":[{"href":"https:\/\/handoli.com\/index.php\/wp-json\/wp\/v2\/posts\/9217","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/handoli.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/handoli.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/handoli.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/handoli.com\/index.php\/wp-json\/wp\/v2\/comments?post=9217"}],"version-history":[{"count":0,"href":"https:\/\/handoli.com\/index.php\/wp-json\/wp\/v2\/posts\/9217\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/handoli.com\/index.php\/wp-json\/wp\/v2\/media\/9218"}],"wp:attachment":[{"href":"https:\/\/handoli.com\/index.php\/wp-json\/wp\/v2\/media?parent=9217"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/handoli.com\/index.php\/wp-json\/wp\/v2\/categories?post=9217"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/handoli.com\/index.php\/wp-json\/wp\/v2\/tags?post=9217"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}